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Apple Inc (NASDAQ: AAPL) became the leading smartphone seller in China in Q4, despite Covid disruptions and economic slowdown.
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Apple accounted for nearly 24% of China's smartphone sales in the last three months of 2022, according to Counterpoint Research.
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In 2022, vivo retained the first spot with a 19.2% market share, followed by Apple at 18.0% and OPPO at 17.5%.
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Also Read: Apple Anticipates India Production Share To Rise 25% In Attempt To Diversify Base Beyond China
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Apple again impressed despite shortages faced by the iPhone 14 Pro versions and the comparatively lower popularity of the iPhone 14 series' non-Pro versions due to limited upgrades compared to the iPhone 13.
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Apple's sales outperformed the country's market in 2022, falling by only 3% Y/Y.
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Major Android OEMs like OPPO (-27% Y/Y), vivo (-23% Y/Y), and Xiaomi Corp (OTC: XIACF) (OTC: XIACY) (-19% Y/Y) saw significant Y/Y declines.
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China's smartphone sales declined 14% Y/Y in 2022 to record their fifth consecutive year of decline.
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In Q4 2022, China's smartphone sales declined 15% Y/Y despite China's Covid relaxations. Apple posted a double-digit decline Y/Y in Q4.
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Counterpoint expects a market turnaround once COVID-19 herd immunity happens, likely in Q2 2023.
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Price Action: AAPL shares closed higher by 1.37% at $145.93 on Friday.
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This article originally appeared on Benzinga.com
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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