In March, Apple’s iPhone shipments in China increased by 12% to 3.75 million units, driven by price cuts from both the company and third-party sellers. This growth came after a significant sales slump of 37% in the first two months of 2024, and a 19% decline in smartphone shipments during the first quarter – the worst performance since 2020. This rebound is attributed to aggressive discounting, including up to 10% off some iPhone 15 models, stimulated by competition from Huawei’s successful new smartphone launch. Despite a year-on-year decline of 8.1% in sales, Apple’s fiscal second-quarter revenue in the Greater China region reached $16.37 billion, surpassing analyst expectations.