Apple Tops iPhone Sales in China with 15% Global Growth

Apple's strategic price cuts on the latest iPhone 16 models, with discounts of up to 2,530 yuan ($351), have propelled the company to the top spot in China's smartphone sales in May, marking its strongest two-month global sales growth since the COVID-19 pandemic. According to Counterpoint Research, global iPhone sales rose 15% year-over-year during April and May, driven primarily by growth in Apple's two largest markets, China and the United States, along with double-digit gains in Japan, India, and the Middle East. Data from the China Academy of Information and Communications Technology showed shipments of foreign-branded phones in China increased slightly year-over-year, underscoring Apple's firm hold in a competitive market. Analysts remain optimistic about Apple's performance, with a majority rating the stock as 'Outperform' and projecting nearly 16% upside potential based on current price targets. However, experts note that while price reductions have boosted short-term sales, Apple still needs a robust long-term strategy to maintain its competitiveness in China’s dynamic smartphone market. Overall, Apple's combination of strong brand appeal, smart pricing, and growth in key regions supports a promising outlook for the company's near-term performance.