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Apple Inc’s (NASDAQ:AAPL) iPhone sales topped the charts in China in May, reflecting a rebound in growth in Apple’s two leading markets, China and the U.S.
The company’s global sales increased by 15% during April and May, a record since the 2020 pandemic, Reuters cited Counterpoint Research preliminary data on Friday.
The firm noted that Chinese e-commerce platforms offered discounts of up to 2,530 yuan ($351) on Apple’s latest iPhone 16 models in May.
Also Read: Apple Plans iPhone Shift From China To India Amid Tariff Pressures, Geopolitical Risks: Report
Counterpoint said tariff evaders and double-digit growth in Japan, India, and the Middle Eastern markets partly drove the rebound.
Ivan Lam of Counterpoint highlighted how the U.S. and Chinese markets dictated the iPhone’s prospects.
Last week, Counterpoint cut growth expectations for global smartphone shipments in 2025 to 1.9% on Wednesday, down from the prior 4.2%, citing the Trump administration’s tariff-related uncertainties.
The firm also revised shipment growth from China down to near flat and expects Apple and Samsung Electronics (OTC:SSNLF) shipments to slow due to higher cost burden on consumers.
International Data Corporation (IDC) cut the 2025 global smartphone shipment growth outlook to 0.6% from 2.3%.
However, IDC expects China smartphone shipments to grow by 3% in 2025, driven by government subsidies. In contrast, Apple will likely decline 1.9% in 2025 due to ongoing competition from Huawei, the overall economic slowdown, and the lack of subsidies.
IDC expects the U.S. smartphone shipment growth to slow to 1.9% in 2025, down from 3.3% in 2017, due to tariff-related price increases.
AAPL Price Action: Apple stock is down 0.82% to $197.57 at last check Friday.
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