Apple is poised to lose market share in China to local smartphone makers, who are ahead on 5G technology, according to Rosenblatt Securities.
"We remain cautious on iPhone sales as recent signs point to Huawei's 5G Mate 30 smartphone starting to gain market share in China in the high-end segment," Jun Zhang, China tech analyst, said in a note on Monday. "Huawei has launched eight 5G smartphone models in China. We believe Apple will lose market share in China in the March quarter."
Huawei's 5G Mate 30 Pro model ranked the most popular phone in China in November, beating the long-time winner iPhone, the analyst noted. OPPO, Vivo, and Xiaomi are all slated to launch 5G smartphones in December, creating a big threat to Apple, which still hasn't announced its 5G lineup, Zhang said.