UBS: Apple’s iPhone demand in China fell by 70% in February
Today, UBS announced that in February of this year, the demand for Apple’s iPhone in the Chinese market fell by nearly 70% year-on-year.
Particularly, UBS analyst Timothy Acuri said in the report that the iPhone’s market demand in Central Europe is still weak, and demand in February fell nearly 70% year-on-year. But Akuri also pointed out that this decline is no accident, and it is similar to the decline in sales in December last year and January this year. He says this data is ‘neutral,’ as weak China smartphone is ‘well understood,’ as are iPhone struggles in China.
This data from Akuri is basically consistent with the data of other research institutes. Yesterday, Longbow Research released a report showing that Chinese consumers are becoming less interested in iPhones. This claim is based on the fact fewer people search for iPhones on the Internet.
Longbow Research data shows that in February this year, consumers search for iPhones through Baidu down 48%. In January of this year, the search volume fell by 50%. In fact, this is the fifth consecutive quarter of decline.
More importantly, this decline is also at a time when the iPhone is cutting prices sharply in China. Longbow Research analyst Shawn Harrison said in the report: ‘Multiple iPhone price cuts did not stop China iPhone search trends from weakening further while February supplier sales were abysmal.’
However, Akuri also said today that Apple is expected to release a new video streaming service on March 25. Daniel Ives, an analyst at US investment bank Wedbush, believes that if Apple’s streaming video service develops smoothly, it will become a huge source of profit for the company.
Ives expects that the number of users of Apple’s streaming video services will reach 100 million between 2022 and 2024. By then, it is expected to bring an additional $7 billion to $10 billion in revenue for Apple each year.