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Apple iPhone Sales Plummet Drop In Production

Apple has had to cut back on production for their iPhone lines as sales drastically plummet in China.

The California-based company has seen a 35.4% drop in sales on a year-by-year basis in November, according Rosenblatt Securities analyst Jun Zhang.

‘We expect more production cuts in March as Apple will see increasing headwinds from aggressive 5G smartphone launches in China and 5G service promotions in China begin in March,’ Zhang wrote.

Zhang’s report cited the cheaper iPhone 11 as hurting the sales of the more expensive iPhone 11 Pro and 11 Pro Max, in the critical Chinese market.

The report also predicts the production line for the entire iPhone 11 line will be scaled down as much as 60%, beginning in March.

It comes just days after an analysis from Wall Street revealed that shipments of iPhone’s to China were reduced more than 30% last month — for the second straight month of double-digit declines.

Another contribution to Apple’s struggle to hold it’s grip on the Chinese smartphone market  – which saw it slip from 7% to 5% last month – is the competition with Chinese company Huawei.

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According to Credit Suisse, Huawei captured up to 42% of it’s local market in November this year.

However, Apple shares reached a record high on Tuesday, up 0.5% and trading at $281.02.

 

 

 

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