Apple sales slump on singles' day, Huawei jumps

Investing.com -- China’s Singles’ Day smartphone sales dropped 9% year-on-year during the two-week sales period, reflecting muted consumer enthusiasm amid economic challenges, as per data from Counterpoint Research. 

While the overall market declined, the performance of individual brands varied, with Apple (NASDAQ:AAPL ) posting a sharp year-on-year drop, while Huawei registered a 7% growth.

The annual shopping festival, which spans Weeks 44-45, saw Chinese smartphone brands, except Huawei, releasing flagship models ahead of the sales period to drive interest. 

This contrasted with last year, when only Xiaomi (OTC:XIACF ) launched its flagships early. However, the flood of new devices also cannibalized sales of older models, particularly impacting brands like Apple.

Apple faced a double-digit decline in sales compared to the same period in 2023. Despite the iPhone 16 Pro and iPhone 16 Pro Max being the best-selling models during the festival, Apple struggled to compete with a wave of flagship launches from domestic rivals, many of which were aggressively priced and backed by promotions. 

The heightened competition from Huawei, OPPO, and vivo further compounded Apple’s challenges.

Huawei, on the other hand, recorded the strongest growth among major brands, with a 7% year-on-year increase. 

The company capitalized on price cuts for its Pura 70 and Mate 60 series, coupled with strong demand for the newly launched Nova 13 series powered by its 5G Kirin chipset. 

Other domestic brands also fared well. OPPO, excluding its OnePlus sub-brand, saw a 6% year-on-year increase, driven by its affordable A series, Reno 12, and the high-end Find X8 series. 

Similarly, vivo’s sales rose 5% year-on-year, boosted by strong performances from its budget-friendly Y series and the newly introduced X200 lineup.

Not all brands benefited from the festival, however. Xiaomi posted a 6% decline in sales year-on-year, despite a strong debut for its new Xiaomi 15 series. 

Meanwhile, Honor saw a 15% drop, attributed to intense market competition and a slower ramp-up for its Magic 7 series, which launched later in the period.

Source: Investing.com