APPLE IPHONE SALES IN CHINA FALL 30% IN FIRST WEEK OF 2024

Apple (AAPL.O)'s iPhone sales in China dropped by 30% in the first week of 2024, Jefferies analysts said in a note, adding to signs of growing competitive pressures from domestic rivals such as Huawei (HWT.UL) for the U.S. tech giant. The decline in Apple's sales was the primary catalyst for an overall double-digit drop in China smartphone shipments for the first week, according to a note the brokerage published on Sunday. Other Android brands and Huawei achieved relatively flat growth year-over-year during this period.

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