Recent research from JP Morgan reveals that iPhone sales are rebounding in China, bolstered by improvements in the region's smartphone market. Despite earlier challenges, JP Morgan's optimism post-WWDC has been validated with a significant uptick in sales.
Data from the China Academy of Information and Communications Technology (CAICT) for May 2024 shows a notable increase: iPhone sales surged by 44% compared to April 2024 and by 40% compared to May 2023. While these figures demonstrate recovery, they fall slightly below typical seasonal growth rates, which historically hover around 55% at this time of year.
Overall smartphone shipments in China also saw positive growth, rising 26% month-over-month and 16% year-over-year according to CAICT. Despite Apple's year-over-year sales still showing an 8% decline for May, the year-to-date figures indicate a 17% increase, signaling a turnaround from earlier in the year.
Analysts remain optimistic about the upcoming iPhone 16, expected to benefit from the introduction of Apple Intelligence. Previous research suggests that Apple's iPhone 15 performed well in China, setting the stage for continued recovery and potential growth with the latest model.
