What you need to know
- Figures show the iPhone is bouncing back in China.
- Sales in Q2 of 2020 surged by 225% on the previous quarter.
- That's a 32% increase on the same quarter last year.
Apple was the fastest growing manufacturer in Q2 in China, as sales of the iPhone surged by 225% on the previous quarter.
As noted by Counterpoint research:
In terms of growth, Apple was the fastest-growing key OEM during the quarter. Despite the market decline, Apple grew an impressive 32% YoY due to the continued popularity of the iPhone 11 series and price cuts. iPhone SE 2020 also quickly entered among the top 3 best-selling iPhones in Q2 2020. June was the best month in terms of smartphone sales so far this year after COVID-19 outbreak driven by surge in sales by Xiaomi (+42% MoM), Huawei (+11%) "
Apple enjoyed this growth despite the smartphone market in China declining by 17% overall compared to the same period last year. The market did recover compared to the first quarter of the year, "indicating some signs of recovery." As Counterpoint notes, whilst COVID-19 is all but contained in China, smartphone demand is yet to recover to "pre-COVID levels."
One-in-three phones sold in China was a 5G device, an encouraging sign that demand for the tech is high in the country.
According to figures from CINNO, Apple's Q2 surge marks the growth of 225% in sales. Although a massive figure, this should be understood within the context of a very poor Q1. According to CNBC, Counterpoint says that the best-selling iPhone in China remains the iPhone 11, which has consistently held the top spot since its release in September.
Apple is due to announce its Q3 results at an earnings call with investors tomorrow, Thursday, July 30. (opens in new tab)
