Signs of iPhone Sales Recovery in China iPhone sales in China are showing signs of recovery, bolstered by a strengthening smartphone market and anticipation for the iPhone 16.

Even before the release of the iPhone 16, research from JP Morgan indicates a rise in iPhone sales in China, driven by a recovering smartphone market.

Recently, JP Morgan had advised investors about Apple’s challenges in China but projected a recovery. Following the announcements at the 2024 Worldwide Developers Conference (WWDC), JP Morgan increased its Apple stock price target to $245, expecting a strong upgrade cycle for the iPhone 16 due to the upcoming Apple Intelligence features.

JP Morgan’s latest data for May 2024 shows a notable improvement in iPhone sales. According to figures from the China Academy of Information and Communications Technology (CAICT), iPhone sales increased by 44% compared to April 2024 and 40% compared to May 2023.

Although these numbers are promising, they are still below Apple’s historical performance, which typically sees a 55% growth at this time of year.

Apple Store
Apple Store | Jifangbei | China

Overall, smartphone vendors in China saw increases, with CAICT reporting a 26% rise in total smartphone shipments in May 2024 compared to the previous month and a 16% rise compared to the previous year.

Despite the positive trend, Apple’s year-over-year sales for May were down 8%.

However, this is an improvement from January 2024, when sales were down 38% year-over-year. Year-to-date, Apple’s sales have increased by 17%, still below the 20% market share previously seen in China.

Counterpoint’s research indicates that the iPhone 15 peaked higher than its predecessor, suggesting a trend towards recovery.

Analysts expect the iPhone 16, with its advanced Apple Intelligence features, to further boost sales.

About the Author

News content on AppleMagazine.com is produced by our editorial team and complements more in-depth editorials which you’ll find as part of our weekly publication. AppleMagazine.com provides a comprehensive daily reading experience, offering a wide view of the consumer technology landscape to ensure you're always in the know. Check back every weekday for more.

Editorial Team | Masthead – AppleMagazine Digital Publication