"Apple's iPhone Sales Drop 24% in China Amid Huawei's Resurgence"

Apple's iPhone sales in China dropped 24% in the first six weeks of 2024, facing tough competition from local smartphone brands like Huawei, Oppo, Vivo, and Xiaomi. Huawei's smartphone business is experiencing a resurgence in China, with a 64% year-over-year increase in shipments, particularly after the launch of its Mate 60 smartphone. Apple shares were down more than 2% in early trading in the U.S. as the company also faced supply chain disruptions due to Covid-19 lockdowns in China.