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Apple (NASDAQ:AAPL) is feeling the heat in China. iPhone sales slid 18.2% in Q4 2024, dropping its market share to 17.1%, down from 20.2% a year ago. Meanwhile, Huawei is back on top for the first time since U.S. sanctions hit in 2019, grabbing an 18.1% share.
The company's Mate 70 and Nova 13 series are driving its comeback. Xiaomi isn't far behind, securing 17.2% of the market, thanks to strong demand for its Mi 15 flagship. Vivo follows with 16.3%, while Honor and Oppo hold 13.6% and 12.5%, respectively. China's smartphone market shrank 3.2% in Q4, the only quarterly decline of the year, though full-year sales inched up 1.5%.
Apple now sits in fourth place for the year with a 15.5% share, seeing a 12.6% drop from 2023. Looking ahead, Counterpoint expects modest growth in 2025. A government-backed smartphone subsidy program may help, but economic uncertainty and rising competition make the road ahead tough for Apple.
This article first appeared on GuruFocus.