iPhone goes flat in China as Apple gets crowded out
UBS research notes that saturated Chinese consumers, much like many others, are waiting longer to upgrade and, when making a purchasing decision, are favoring domestic brands over Apple, which has lost 6 points in market share since 2015 to 19 percent.
“We expect a flattish market, give or take a few points of growth depending on the overall market,” said the bank’s Steven Milunovich in the note obtained by CNBC. “There will be continued pressure from local competitors that have become adept at quickly replicating features.”
Even though other analysts see the competition as slow to catch up to features like Face ID, there’s also more value to be had than a $1,200 iPhone.