China iPhone sales strong, Apple tells investors as Huawei threat looms
By Yuvraj Malik and Stephen Nellis
(Reuters) -Apple said on Thursday that demand for its iPhones in China was strong, trying to reassure investors who are worried it is losing ground to a newly resurgent Huawei Technologies and other local smartphone makers.
«In mainland China, we set a quarterly record for the September quarter for iPhone,» Chief Executive Tim Cook told Reuters in an interview. «We had four out of the top five best-selling smartphones in urban China.»
Apple (NASDAQ:AAPL) appeared to have gained market share in China in the July-September period, even if the overall smartphone market may have contracted, he said on a conference call with analysts.
The company expects to sell more iPhones in the holiday quarter despite this year's quarter having one fewer week of sales than the prior year's, Cook said.
Research firm Canalys estimated that overall smartphone sales in China fell 3% in July-September from a year earlier as consumers bought fewer smartphones as an economic recovery was choppy.
That was slower pace of decline than previous quarters, a sign that a slump in the market had eased. Sales of iPhones in China fell 6%, Canalys said.
On the other hand, analysts estimate that Huawei's China smartphone sales grew strongly in the quarter. Its Mate 60 Pro phone has grabbed headlines for using an advanced China-made chip despite being squeezed for years by debilitating U.S. sanctions.
Apple said on Thursday that its overall sales in China dipped 2.5% but it blamed tough Mac computer and iPad sales for that. Cook said sales there grew after accounting for foreign-exchange rates.
Apple's sales in China have fallen in three of the four quarters in its 2023 fiscal year, which ended Sept. 30.
Analysts said
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