iPhone X is not performing as expected in the chinese market
It has been over a month since Apple has started shipping the iPhone X but its picture is still unclear in terms of company’s business. Recently some reports and predictions from the investment and management firms made news and create’s a bit concern for the Apple investors. However, the China market is the deciding factor for iPhone X sale and Apple’s profit graph for next quarter. In order to get more detailed information about the matter, we have researched and brought the expert’s reports to put some light on Apple’s current market situation.
Hans Tung, market expert from GGV technology, an investment firm that analyses the US and Chinese collective business details have given his points on the matter. “Based on reports that we have seen, there definitely is a lot of concern on how the X will do”, said Hans Tung. ”But looking at China, the early indication for the second largest market for iPhone is that it's doing surprisingly well in the first weeks of sales."
According to a report published by BARRON’S over the weekend mentioned that Apple will become a trillion dollar company next year. On the contrary, a Taiwanese newspaper reports that unnamed sources have revealed that Apple will lower its forecast figures of its flagship phones for next quarter. This news immediately affects the Apple’s stock value and more than $20 million of company’s market evolution was shaved off.
Talking about the Chinese market for Apple, there are certain reports showing the slow progress of iPhone X in world's second-largest market for the iPhone maker. Experts have shared their views on the less impactful launch of new iPhone in China. Daniel Ives, analysis of GBH insights has mentioned that he has noticed less impact of iPhone X in comparison to iPhone 8 and 8 plus due to the burly price tag on the iPhone X. Along with this the social media talks and hype about iPhone X didn't even matchup that of the iPhone 6 in 2014. Tung's report also claims that if Apple does not work more strategically in China, it may keep losing the market in coming time. The competitors like Huawei and Oppo are slowly swiping the Apple’s market with cheap and affordable smartphones. Additionally, WeChat is also introducing new features and functionalities to challenge Apple.
However, in spite of all the unpleasing results, Hans Tung still believes that there are some surprising turnovers are waiting for Apple in the next year in China. He backed up his statement by saying, “The Face ID feature is getting some positive responses”. What Chinese market has actually planned for the Apple’s flagship phone that only time will tell us. Although it is quite tough to ignore the Tung’s prediction for Apple’s future in the Chinese market right now things are not going quite well for the company.
Akash Singh Chauhan is a senior writer at MobileAppDaily and he mainly covers all the latest happenings and tweaks in mobile app technology. Being an Engineering graduate he is always compelled to the technology and tries to discover new trends in the tech world. Along with any tech news he also never misses a single episode of ‘Dragon Ball’.Follow