iPhone had been under immense pressure in the Chinese market for the past few years due to significant market capturing by various Chinese brands including Huawei and Oppo, However, iPhone sales increased in China after price cuts on various iPhone models according to the data published by Morgan Stanley.
Analyst Katy Huberty said during the first five months of this year, iPhone sales have seen continuous growth in the Chinese market, past month May increase was recorded at 0.51% and cumulative share increased by 19.5%. However, the increase was much lower than the average of the previous four months which was recorded at 1.9%.
According to Katy, the significant improvement in growth was seen due to the two major factors including iPhone price cuts and lower VAT. She also said that the overall iPhone sales growth is still dubious in the Chinese market but Apple has significantly improved the situation with price cut decisions.
According to the overall iPhone forecast, iPhone shipments during the second quarter from April to June will drop by 10% year-on-year which accounts for 37 million units and the company’s total revenue will be $53.6 billion. It also suggests that iPhone shipments will plunge by 8% with 43 million units and the revenue $61.4 billion.