Apple’s Sales Decline in Greater China Amid AI Ambitions
Apple's Struggle in Greater China
Apple's sales in Greater China declined less than 1% last quarter as Tim Cook engages in diplomatic outreach but faces fierce competition. The iPhone maker reported sales totaling US$15.03 billion, slightly down from US$15.08 billion year-on-year. Over the last 12 months, revenue also fell 7.7% to US$66.95 billion. Conversely, the company enjoyed a 6.1% increase in global sales, reaching $94.9 billion.
AI Services and Local Competitors
While Apple struggles, local brands like Xiaomi and Honor leverage their AI-equipped smartphones to gain market share. Apple awaits final approval from Beijing for its AI services in mainland China, with an anticipated Chinese-language version launching in April.
Tim Cook's Engagements
- Cook met Chinese officials, including Vice-Premier Ding Xuexiang, to discuss investments.
- Bridgewater Associates founder Ray Dalio and Blackstone's Stephen Schwarzman are part of the Tsinghua University advisory board.
- Cook labels China as a significant market and supply chain partner.
The recent launch of the iPhone 16 series has helped Apple regain its position as the No. 2 smartphone brand in the third quarter, showing a potential for recovery despite ongoing challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.