Huawei's mobile phone exploded! Sales in the first quarter increased by nearly 70%! iPhone sales in China fell by 19%, the worst performance since 2020
Edited: Huang Sheng
According to Counterpoint's weekly report on mobile phone sales, China's smartphone sales increased by 1.5% year-on-year in the first quarter of 2024, achieving positive year-on-year growth for the second consecutive quarter.
Huawei stood out among all mobile phone brands in the first quarter, with a year-on-year increase of 69.7%. Much of Huawei's growth is due to strong sales of its 5G-enabled Mate 60 series, as well as its own household recognition, which has seen a significant increase in its market share in the $600-plus premium segment. Despite Huawei's strong comeback that hit the rest of the market, Honor still achieved an 11.5% year-on-year growth in the first quarter, thanks to several popular models and the expansion of offline channels.
In addition, it is worth noting that Apple's sales in the first quarter fell by 19.1% year-on-year due to Huawei's comeback changing the landscape of the high-end market. It is the worst performance of the device in China since 2020.
Image source: Counterpoint official account
Huawei's new phone went on sale and ran out in seconds
In August last year, the Huawei Mate 60 series, which was directly put on sale without warm-up and publicity, was rushed up as soon as it was released, becoming the biggest variable in the mobile phone market in the third quarter of last year.
On April 18 this year, Huawei terminals officially announced that at 10:08 on April 18, Huawei Pura70 Ultra and Huawei Pura 70 Pro started the pioneer plan and officially went on sale. At 10:07 on April 22, Huawei Pura 70 Pro+ and Huawei Pura 70 will be on sale. Several new products are designed with a triangular wind vane, and the price starts at 5499 yuan.
Image source: Screenshot of Huawei terminal
"Today, we launched the HUAWEI Pura 70 Series Pioneer Program, with the HUAWEI Pura 70 Ultra and HUAWEI Pura 70 Pro going on sale at 10:08 a.m., allowing some consumers to experience artistic and aesthetic images in advance. Huawei said in a letter to Huawei users.
According to the Securities Times, at 10:08 a.m. on the same day, due to the blind booking of the Pura 70 series in advance, the reporter also received relevant information from Huawei's flagship store:
On the official website, from 10:08 a.m., in less than a minute, many models of the Pura 70 series appeared with the words "not for sale" or "temporarily out of stock".
At about 9:40 a.m. that day, the reporter saw a long queue at the Huawei flagship store in a business district in Shenzhen that there was a long queue at the door of the store in advance.
Cook concealed that "iPhones don't sell well in China", and Apple agreed to lose money and settle
On Friday (15th), local time, Apple said in a legal document that it agreed to pay $490 million to reach a class-action settlement. The lawsuit alleges that Apple violated U.S. federal securities laws after its chief executive, Tim Cook, made false and misleading statements about the company's performance in the Chinese market.
Red Star News, according to reports, the lawsuit stems from an unexpected announcement made by Apple on January 2, 2019. On the same day, Apple suddenly announced that it would cut its quarterly revenue forecast by up to $9 billion.
Image source: Photo by reporter Zhang Jian
Cook told investors on an analyst call on Nov. 1, 2018, that while Apple is under pressure to sell in currencies like Brazil, India, Russia and Turkey, "I wouldn't put the Chinese market in that category," the lawsuit says. Last quarter, our business in China was very strong. Apple also said at the time that it would stop providing sales figures for iPhones and other products, saying that the number of phones sold in 90 days did not necessarily represent the potential strength of the business, and emphasized Apple's financial strength in recent years.
However, just days after Mr. Cook's remarks, Apple told its suppliers to cut production. In January 2019, the company abruptly announced a revenue cut for the first time since the launch of the iPhone in 2007, causing the company's stock price to fall 10% the next day and wipe out $74 billion in market value.
Investors believe that Cook's remarks misled them into making bad investment decisions.
Image source: Photo by reporter Zhang Jian
Apple "knows it's not doing well in the Chinese market and should have disclosed it earlier," they said. "Apple's business metrics and financial outlook are not as strong as defendants have convinced the market," the plaintiffs wrote in the filing.
According to the China Securities Journal, Apple believes that the settlement is for the benefit of both parties and does not mean that the company or Cook will admit any wrongdoing. Apple emphasized that the settlement amount will be paid by the company to settle all related charges and bring a settlement to the company and shareholders.
National Business Daily