In the first quarter, China's smartphone shipments grew by 3.3%, with local brands benefitting from government subsidies. Apple faced a 9% decline in iPhone shipments, marking it as the only major smartphone maker to lose market share during this period. Xiaomi surged ahead with a 39.9% market share increase, retaking the top spot. Apple's iPhones, often priced above the subsidy cap, struggled in this competitive landscape, as local brands offered more affordable options to consumers, making it challenging for Apple to attract budget-conscious buyers.
Apple's smartphone shipments in China declined as its premium pricing structure prevented it from capitalizing on the subsidies.
In January, the Chinese government extended subsidies intended to stimulate consumer spending to smartphones and other tech devices.
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