Apple's Singles' Day Sales Dip Leads to Fall in Shares

Despite a 4% drop in iPhone sales during China's shopping event, Apple maintains lead in overall market share.

Apple's iPhone sales during China's Singles' Day shopping event fell about 4% from last year, leading to a 1% fall in Apple shares.
Local smartphone rivals, Huawei and Xiaomi, saw sales increase 66% and 28%, respectively, during the same event.
Despite the dip in sales, Apple still leads in terms of overall market share, followed by Xiaomi and Honor, with Huawei ranking fourth.
Huawei's Mate 60 series 5G phones and Xiaomi's Mi 14 series were particularly successful during the sales period.
Analysts suggest that Apple's underperformance is partly due to supply chain issues affecting the availability of the new iPhone 15 models.