{"id":1578636,"date":"2022-07-29T12:09:58","date_gmt":"2022-07-29T16:09:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1578636"},"modified":"2022-07-29T12:10:08","modified_gmt":"2022-07-29T16:10:08","slug":"apple-faces-lukewarm-demand-in-china-after-quarterly-revenue-drop-analysts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/apple-faces-lukewarm-demand-in-china-after-quarterly-revenue-drop-analysts\/","title":{"rendered":"Apple faces lukewarm demand in China after quarterly revenue drop -analysts"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fapple-faces-lukewarm-demand-in-china-after-quarterly-revenue-drop-analysts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1578636&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Josh Horwitz<\/p>\n<p>SHANGHAI (Reuters) \u2013     Apple should brace for a weakening of demand in China as shoppers curb spending in an anemic economy, some analysts warned on Friday, after the iPhone maker said demand had rebounded in mid-June after COVID-19 lockdowns hampered sales.<\/p>\n<p>The iPhone maker on Thursday reported quarterly revenue in Greater China fell 1%, snapping a streak of strong quarters in the region.<\/p>\n<p>Overall, Apple\u2019s revenue rose 2%, beating estimates, and the company said there had been no slowdown in demand for iPhones globally despite macroeconomic indicators turning negative.<\/p>\n<p>Apple boss Tim Cook blamed the drop in Greater China revenue on strict lockdowns in Chinese cities, which forced millions to stay home and hammered the Chinese economy.<\/p>\n<p>\u201cWe did see lower demand based on the COVID lockdowns in the cities the COVID lockdowns affected. And we did see a rebound in those same cities toward the end of the quarter in the June time frame,\u201d he said.<\/p>\n<p>China\u2019s strict curbs to stamp out COVID have undercut a recovery in the world\u2019s second-largest economy, with consumer confidence hovering near record lows, private investment slowing and youth unemployment at a record 19.3%, prompting calls for more urgent government stimulus. <\/p>\n<p>Apple this week announced discounts on iPhones and other hardware for Chinese customers, a move it occasionally makes when sales are slow.<\/p>\n<p>Still, the company is more insulated from a weak economy because it is the only leading brand offering expensive devices, analysts said.<\/p>\n<p>Apple\u2019s chief competitor in the high-end segment, Huawei, has seen sales collapse after U.S. sanctions prevented it from sourcing key components. Honor, a Huawei spin-off, is growing fast but is yet to break into the high-end market.<\/p>\n<p>Overall Chinese smartphone sales in April-June fell 14.2% on year and volumes hit a decade low, Counterpoint Research said on Wednesday. <\/p>\n<p>Apple\u2019s market share in China rose slightly to 15.5% in the quarter even as its sales volumes dropped 5.8%, Counterpoint said, a smaller blow compared with Oppo, Xiaomi, and vivo.<\/p>\n<p>IDC analyst Will Wong said that unlike in late 2020, when demand for phones in China surged after the first COVID lockdown, phone sales are expected to shrink.<\/p>\n<p>\u201cIt\u2019s not just the lockdown, but other factors, like the government tech crackdown and the slowdown on the property market, all have a negative effect on consumer sentiment,\u201d he said.<\/p>\n<p>Apple is set to release a new iPhone model in the autumn.<\/p>\n<p>But sales of the new device in China is unlikely to exceed those of last year\u2019s iPhone 13, said Canalys analyst Nicole Peng.<\/p>\n<p>\u201cHigh-end phone sales tend to be resilient in China, but Apple may worry that demand itself is weakening.\u201d<\/p>\n<p> (Reporting by Josh Horwitz; Additional reporting by Jamie Freed in Sydney; Editing by Sayantani Ghosh and Lincoln Feast.)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2731991\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6S063-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6S063-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Josh Horwitz SHANGHAI (Reuters) \u2013 Apple should brace for a weakening of demand in China as shoppers curb spending in an anemic economy, some analysts warned on Friday, after<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1578636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1578636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1578636"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1578636\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1578636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1578636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1578636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}