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11mo ago

Apple's Strategic Price Cuts Propel March Sales Rebound in China

After a significant sales slump, Apple's rare discounts on iPhones in March led to a 12% increase in shipments, signaling a potential turnaround in its critical Chinese market.

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Apple's sales surge in March followed a ramped-up discounting effort
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Overview

  • Apple's iPhone shipments in China surged to 3.75 million units in March following price reductions.
  • The rebound comes after a 37% sales drop in the first two months of 2024, amid intense competition from local brands like Huawei.
  • Despite global declines, Apple's targeted discounts in China helped offset losses in other markets.
  • CEO Tim Cook's recent visits to Asia, including China, underscore the company's commitment to maintaining its market presence.
  • Investors responded positively, with Apple's stock showing resilience over the past year.