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Apple Edges Higher After Surprise iPhone Growth in China

Apple Edges Higher After Surprise iPhone Growth in China

Yahoo16 hours ago
July 3 - Apple (NASDAQ:AAPL) shares edged up nearly 1% Thursday after sales of iPhones in China grew for the first time in two years, according to a report from Counterpoint Research.
In the three months to June 30, iPhone unit sales in China climbed 8% year?on?year, marking the first quarterly growth since Q2 2023. The rebound follows May promotions by Chinese e?commerce platforms that discounted iPhone 16 models and higher trade?in values for older devices.
Apple's timing of price adjustments in May ahead of the 618 shopping festival was well received, said Ethan Qi, associate director at Counterpoint. The 618 festival, held each June, sees retailers offer steep discounts.
Despite the uptick, Apple still trails local rivals. Huawei's smartphone shipments in China rose 12% in Q2, making it the market leader, followed by Vivo and then Apple in third place. Huawei's resurgence comes after its smartphone business recovered rapidly post?sanctions with advanced homegrown chips.
Apple's return to growth in its most critical market comes as it faces U.S. tariff threats and intensifying domestic competition. Investors will be watching whether China's momentum can offset global headwinds in the second half of 2025.
This article first appeared on GuruFocus.
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