Apple may have lost more than a third of its market share in China (AAPL)
Apple may have lost more than a third of its market share in China and up to half its share in major metropolitan areas.
Analysts are describing the company's performance there as "weak."
Many people in China may not be able to afford an iPhone.
Though Apple now has a large base in China, a "supercycle" of upgrades keeps not happening.
Competition from domestic Android-makers, like Huawei and Oppo, has been much stronger than expected.
Apple's revenues in China in the first quarter increased by 11%, to $18 billion, and CEO Tim Cook told analysts in February, "Everywhere I look, I feel really good about how we're doing in China."
But researchers with sources in China aren't so bullish. They think the iPhone X may be hemmed in by its $1,000 price, which places it far out of reach of many consumers in China, and by the aggressiveness of local manufacturers such as Huawei.
The analysts forecast
2018.05.01. 09:50 BY Business Insider :45