Foreign media: Apple's smartphone market in China is shrinking under pressure from Chinese brands
In recent years, the Chinese government has increased efforts to enhance technological self-reliance, reducing reliance on foreign manufacturers and actively supporting leading enterprises in strategic industries such as semiconductors and artificial intelligence. American companies, including industry leaders like Apple, are facing dual pressures: on one hand, they face increasingly fierce competition in the domestic Chinese market; on the other hand, they face diplomatic policy restrictions, including export controls and sanctions.
Against this backdrop, even a seemingly routine decision such as closing a retail store has become an important symbol of changing power balances in the global technology market and reflects the growing uncertainty about the future of Western companies in China. The Financial Times analyzed the reasons for the closure of an Apple store in China.
The Financial Times article stated that the store located in Dalian City's Century Department Store will close starting August 9. The report pointed out that this is the first time since Apple opened its first store in 2008 that it has closed a retail store in China.
The newspaper pointed out that the decision to close the store reflects the ongoing difficulties Apple faces in its business in China. China is Apple's second-largest market. The company's sales in China have declined for six consecutive quarters. Last year, Apple's revenue in China was $66.95 billion, a nearly 10% drop from the peak of $74.2 billion in 2022.
Chinese competitors such as Huawei, Xiaomi, and Vivo are seizing market share in Apple's largest smartphone market globally. According to research firm Counterpoint Research, Apple's market share in China fell from 17.9% two years ago to 15.5% last year.
Original article: https://www.toutiao.com/article/1839073049847178/
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