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Chinese iPhone Sales Plummet 20% As Huawei Cements Market Dominance

After offering ample, market-rattling warnings that its Q1 (a quarter that encompasses the holiday sales season) sales wouldn’t live up to the expectations set in prior years, Apple confirmed in its earnings report that its holiday-quarter revenue declined for the first time since 2001, thanks largely to an unprecedented slowdown in China (long identified as a key growth market for the American consumer-tech giant), as the weaker yuan and a widespread aversion to American companies amid a burgeoning trade spat weighed on sales.

As China struggled with its most severe economic slowdown since 2009, Apple’s sales revenue from Greater China slumped 27% in the most recent quarter.

However, since Apple stopped breaking out sales figures for its iPhone, iPad and Mac beginning in Q1, investors were left to assume that the bulk of the decline was due to slowing iPhone sales, an assumption supported by reports of suppliers slashing production to reflect lower shipment volumes, as well as Apple’s own warnings.

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