"Jefferies Predicts Double-Digit Decline in iPhone Sales in China"

Jefferies analysts predict that Apple's iPhone sales in China will continue to decline, with a 30% year-on-year drop in December and a forecasted double-digit decline for 2024. Huawei's new Mate 60 lineup, featuring a made-in-China system processor, has sparked patriotic fervor and contributed to its growth, while supply constraints limited its smartphone shipments to 35 million in 2023. Apple's increased discounts on its smartphones have not stimulated volume growth, and Huawei's return to competitiveness in the mobile market, along with its development of a software ecosystem, poses a challenge to Apple's market share in China.