Apple is dealing with a significant 23% decrease in iPhone shipments to Asia, especially in China, where strong competition from local brands like Xiaomi, Samsung, and Huawei is changing the landscape. In the second quarter of 2024, Apple dropped out of the top five smartphone manufacturers in China, while Samsung and Xiaomi took advantage of the situation, experiencing growth in key markets.
Part of Apple's challenges stems from a shift in consumer preferences towards foldable phones and advanced features offered by competitors, which has strengthened the positions of brands like Samsung and Xiaomi