Apple stock dips after Credit Suisse says iPhone shipments drop 35% in China

Chinese consumers are cooling on the iPhone, according to a new report by Credit Suisse analysts.

IPhone shipments in China dropped 35.4% in November compared with the same time last year, the analysts wrote in a note Thursday, despite a slight increase in the Chinese smartphone market at the same time. The analysts said Chinese iPhone sales declined 10.3% year over year in October, making this the second straight month of double-digit percentage drops.

Since the launch of the iPhone 11 family, total shipments in China are down 7.4% compared with last year, the analysts said, adding that “we estimate China iPhone revenue fell by >17.5% y/y over the past three months (Sept-Nov).”

Source: https://www.cnbc.com/2019/12/12/iphone-shipments-fall-35percent-in-china-credit-suisse-says.html

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