Apple goes against trend, sees 8% increase during China's 6.18 sales festival
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Last month's 6.18 sales event in China saw a sharp year-over-year drop in smartphone sales, but Apple (NASDAQ:AAPL) managed to go against the trend, Counterpoint Research said on Thursday.
The research firm said that Apple (AAPL) managed to see an 8% year-over-year increase in sales as it faced a lack of "significant competition."
However, Counterpoint added that e-commerce websites offered discounts of around 20% on the iPhone to boost sales during the period.
China's biggest e-commerce providers include JD.com (JD), Alibaba's (BABA) Taobao and Tmall, among others.
Overall smartphone sales fell 8% year-over-year during the period, Counterpoint added.
Huawei managed to see the largest jump during the shopping event, as year-over-year sales rose 52%. Conversely, other smartphone brands continued to see weakness, as Oppo, Xiaomi, HONOR and vivo all experienced declines of 13% or more.
The 6.18 sales event started on June 1 and ran until June 18.
Apple (AAPL) shares fell 0.8% to $189.76 in early Thursday trading.
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