The market in China is rebounding thanks to seasonal demand and new budget phones.
What you need to know
- The smartphone market in China is rebounding.
- Apple reportedly sold around 6 million units in January.
A new report says the iPhone 12 sold around 6 million units in China in January as the market there looks to rebound.
From Digitimes:
Shipments of handsets staged a significant rebound in the China market in January, fueled by seasonal demand ahead of the Lunar New Year holiday and the rollouts of new budget 5G phones by Chinese vendors, according to industry sources.
In China, handset shipments reached 40 million units in January, increasing 93% from a year earlier, said the sources, citing data from the China Academy of Information and Communications Technology (CAICT).
The report specifically notes that whilst Chinese brands accounted for 84% of the market share, "sales of Apple's iPhone 12 lineup were also brisk, reaching about 5.8-6 million units in January."
Astonishingly, the ratio of 5G phones sold in China is purportedly expected to reach 80% in the second half of 2021. Whilst Apple will undoubtedly benefit from this demand, the drive will mostly be driven by the availability of sub-$200 models.
Recent research suggests Apple could increase its iPhone sales by 50% YoY in the first quarter of 2021. From that report:
As reported by AppleInsider, financial services firm Cowen predicts that Apple is increasing its iPhone 12 production demand for the second quarter after a stellar performance over the holiday quarter.
In a smartphone build update report from Cowen seen by AppleInsider, analysts say they have upgraded their forecast for the March 21 quarter for the third month in a row. Cowen currently believes Apple intends to produce 55 million iPhone units, a 49% year-on-year increase for the quarter, and up from 51 million forecast by the firm one month ago.
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