Apple lost its position as China’s top smartphone seller in 2024, as Vivo and Huawei overtook the iPhone maker amid a 17% decline in Apple’s annual shipments, according to Canalys. This marked Apple’s steepest annual sales drop in China, with a 25% plunge in Q4 alone.
Budget smartphone brand Vivo captured 17% of the market, followed by Huawei at 16% and Apple at 15%, highlighting growing competition from domestic brands. Factors such as the absence of AI capabilities in the latest iPhones and the rise of foldable phones have diminished Apple’s edge in one of its largest markets.
Canalys analyst Toby Zhu noted Apple’s challenges, including Huawei's flagship launches, growing consumer loyalty to brands like Xiaomi and Vivo, and competition in high-price segments. Apple’s four-year growth streak, aided by U.S. sanctions on Huawei since 2019, came to an end as Huawei rebounded in August 2023 with premium phones powered by local chipsets, driving a 24% Q4 shipment surge.
To combat declining sales, Apple launched rare promotions, offering discounts of up to 500 yuan ($68.50) on its iPhone 16 models from Jan. 4-7. Chinese e-commerce giants like Alibaba’s Tmall followed suit with discounts up to 1,000 yuan ($137).
Meanwhile, Xiaomi led Q4 growth among top vendors with a 29% shipment increase, followed by Oppo and Vivo with gains of 18% and 14%, respectively. Overall, China’s smartphone shipments rose 4% year-on-year to 285 million units in 2024, underscoring a shifting market dynamic driven by domestic innovation.


SanDisk Q4 Earnings Beat Estimates as Q1 Revenue Outlook Meets Expectations
Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised
Tech Stocks Resilient Amid Bond Market Pressure and AI Boom
U.S. Stocks Hit Unprecedented Peaks Amid Growing Speculation of Federal Rate Cuts
DeepSeek to Raise AI API Prices as Demand for New Models Surges
UOB Q2 Net Profit Rises 10% as Wealth Management Growth Boosts Earnings
AMP Shares Surge 13% After Strong Profit and A$150 Million Buyback
Qantas Shares Climb as Long-Haul Pilot Deal Eases Strike Concerns
OpenAI Restricts Astra AI Over Cyberattack Risks
DoorDash Q2 Revenue Jumps 36% as Orders and DashPass Growth Drive Results
Gold Soars to One-Month High as Weak Jobs Data Fuels Fed Rate Cut Speculation
Deutsche Bank Warns of Persistent Inflation Risks in 2025
Jefferies Upgrades Safran Group Stock with Strong Growth Outlook
IMF Warns Japan of Market Volatility and Interest Rate Risks
S&P 500 Rises Amid Cyclical Stock Gains, Inflation Data Looms
Glencore Posts Strong H1 2026 Earnings, Announces ASX Secondary Listing
Teladoc Shares Rise on Amazon Collaboration for Health Programs 



