Apple Sales Fall y/y on China's Singles' Day, Huawei Up 7%

FILE PHOTO: A Chinese flag flutters near a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo
FILE PHOTO: A Chinese flag flutters near a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo
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Apple Sales Fall y/y on China's Singles' Day, Huawei Up 7%

FILE PHOTO: A Chinese flag flutters near a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo
FILE PHOTO: A Chinese flag flutters near a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo

Apple sold fewer smartphones during China's Singles' Day shopping festival this year as it faced pressure from an "abnormally high" number of rival handsets launched around the event, Counterpoint Research said on Wednesday.

The iPhone manufacturer saw its sales decline year-on-year by "double digit percentages" from Oct. 18 to Nov. 10, the research consultancy said. In comparison, its main rival in China, Huawei, recorded 7% sales growth, fueled by price cuts on its Pura 70 and Mate 60 models.

Xiaomi also saw sales decline, with volumes falling 6%, Reuters reported.

"To capitalize on one of the biggest sales festivals of the year, major Chinese OEMs (manufacturers) except Huawei launched their latest flagships ahead of the festival," Counterpoint said, describing this as a key reason for Apple's decline. Only Xiaomi did so last year, it noted.

Huawei declined to comment. Apple and Xiaomi did not immediately respond to requests for comment.

Overall, smartphone sales in China during the event, the country's biggest online shopping festival, fell 9% year-on-year as a slowing economy weighed on consumer enthusiasm despite the promotions, Counterpoint said.

Apple's Singles' Day performance underscores the growing competition it faces in the world's largest smartphone market, especially from Huawei which has come back strongly in the premium segment.

The US tech giant has since responded with multiple discount campaigns to boost sales. Apple's iPhone 16 Pro and the iPhone 16 Pro Max were the festival's best selling models, Counterpoint said.

China's e-commerce platforms such as Alibaba and JD.com did not release sales figures for the festival, having dropped the practice in 2022, but Alibaba said Apple and Xiaomi were among brands that surpassed 1 billion yuan in gross merchandising value.



Trump Says TikTok Sale Deal to Come before Saturday Deadline

The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
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Trump Says TikTok Sale Deal to Come before Saturday Deadline

The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)

President Donald Trump said a deal with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans would be struck before a deadline on Saturday.

Trump set the April 5 deadline in January for TikTok to find a non-Chinese buyer or face a US ban on national security grounds due to have taken effect that month under a 2024 law.

"We have a lot of potential buyers," Trump told reporters on Air Force One late on Sunday. "There's tremendous interest in Tiktok," adding, "I'd like to see Tiktok remain alive."

TikTok did not immediately comment.

Reuters reported on Friday private equity firm Blackstone is evaluating making a small minority investment in TikTok's US operations, according to two people familiar with the matter.

Blackstone is discussing joining ByteDance's existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, in contributing fresh capital to bid for TikTok's US business. The group has emerged as front-runners.

Washington says TikTok's ownership by ByteDance makes it beholden to the Chinese government and Beijing could use the app to conduct influence operations against the United States and collect data on Americans.

Trump previously said he was willing to extend the April deadline if an agreement over the social media app was not reached.

Last week, he acknowledged the role China will play in getting any deal done, including giving its approval, saying "maybe I'll give them a little reduction in tariffs or something to get it done."

Vice President JD Vance has said he expects the general terms of an agreement resolving the ownership of the social media platform to be reached by April 5.

The future of the app used by nearly half of all Americans has been up in the air since a 2024 law, passed with overwhelming bipartisan support, required ByteDance to divest TikTok by January 19.

The White House has been involved to an unprecedented level in the closely watched deal talks, effectively playing the role of investment bank.