“I maintain a great view of China in the long term,” he remarked.
Local competitors like Huawei have increased their level of competition in that market.
Companies like Huawei, according to Gil Luria, senior software analyst at DA Davidson, are successful in China because “it is the homegrown brand.”
He said on the BBC’s Today show, “But in terms of features, functionality, and prestige, the iPhone still has an advantage over any other handset.”
“So any time consumers get the choice and have the resources, they’re going to buy an iPhone—that’s not any different in China.”
The company’s struggles, which have resulted in a run of declining revenues for five of the previous six quarters, set it apart from the larger market.
According to research firm Canalys, smartphone shipments increased globally by 10% in the first three months of the year, breaking through a protracted period of low demand.
Mr. Luria stated that since the launch of the iPhone 12 over four years ago, “when Apple introduced 5G connectivity, which compelled a lot of consumers to upgrade the phone,” there have been no “significant improvements to the handset” for the company.
“Now, they’re hoping to finally drive a big iPhone upgrade cycle by introducing enough new AI features into the iPhone 16, which will come out later this year,,” he stated.
Apple is trying to resolve a concerning iPhone bug.
Of children aged 5-7, about 25% own cellphones.
The newest tech behemoth under attack is Apple.
Regarding its app store fees, Apple is also engaged in legal disputes with US and European regulators.
Apple receives large payments from Google for making its search engine the default one on its internet browser, Safari, but now the lucrative payments are in jeopardy due to a separate anti-monopoly action filed in the US against the search giant.
The pre-tax earnings for the three months remained unchanged at $28 billion, and the corporation declared that it will repurchase $110 billion of its shares.
