Apple's iPhone Sales Drop During Singles' Day

Apple experienced a significant decline in iPhone sales during China's Singles' Day shopping festival, with reports indicating a drop of double-digit percentages compared to the previous year. This decline is attributed to intense competition from local brands, particularly Huawei, which saw a 7% increase in its sales due to successful promotions. The overall smartphone market also faced challenges, with sales falling 9% year-over-year as economic pressures dampened consumer enthusiasm. Major Chinese OEMs launched multiple flagship models ahead of the event, further impacting Apple's sales of older models. Despite this, Apple's iPhone 16 Pro and Pro Max emerged as bestsellers during the festival, although overall performance remained disappointing. In response to the competitive landscape, Apple has initiated various discount campaigns to stimulate sales.