Huawei sold 1.6 million 'iPhone killer' Mate 60 Pro phones in six weeks - report
Get Alerts AAPL Hot Sheet
Rating Summary:
45 Buy, 29 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 17
Join SI Premium – FREE
China’s Huawei Technologies sold 1.6 million of its Mate 60 Pro handsets in just six weeks, according to research firm Counterpoint Research.
The embattled tech giant managed to sell 400,000 of these units in the last two weeks amid growing concerns that the high-end smartphone is hurting Apple’s (NASDAQ: AAPL) iPhone 15 sales in China.
In the initial 17 days of the iPhone 15's availability, sales were down 4.5% compared to the previous iPhone 14, as reported by Counterpoint.
Huawei's strong performance is seen as a significant achievement, particularly in the face of U.S. technology sanctions, which have forced the company to rely more on domestically made chips.
“The trend suggests iPhone would lose to Huawei in 2024,” Jefferies analyst Edison Lee wrote in a recent note to clients.
“We believe weak demand in China would eventually lead to lower-than-expected global shipments of iPhone.”
Apple shares were down 0.3% in early Thursday trade.
By Senad Karaahmetovic
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple has talked to PrismML about ways it could use its technology - The Information
- Morgan Stanley downgrades Chinese luxury auto dealers on weak demand
- Apple scores record 89 Emmy Award nominations, with top category nods for celebrated comedies Widow’s Bay, Shrinking, and Margo’s Got Money Troubles, and global hit dramas Pluribus, Slow Horses, a
Create E-mail Alert Related Categories
Analyst Comments, General News, Hot ListRelated Entities
Jefferies & Co, Senad KaraahmetovicSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share