On March 8th, Apple announced on its official website that the Shanghai Jing'an store is about to open, located at 1699 Nanjing West Road, Jing'an District, Shanghai.
In addition, Apple has also released limited wallpapers for the "Apple Jing'an Store", including MacBook and iPhone versions.
It is reported that the store is located directly opposite Jing'an Temple, and the enclosure design has been officially announced, with the logo composed of Shanghai city flower Magnolia.
According to a comprehensive report by Minnan Net, the Shanghai Jing'an store will be the highest specification Apple flagship store in China at present. Based on the exposed decoration information, the Jing'an Temple store in Shanghai is expected to occupy an area of 3835 square meters, with a total investment of over 83.4 million yuan. The retail store level will be second only to the global Apple flagship store on Fifth Avenue in New York.
At present, Apple has opened seven stores in Shanghai's Hong Kong Plaza, Nanjing East Road, Shanghai World Trade Center IAPM Mall, Shanghai International Finance Center IFC Mall, Zhongshan North Road Global Port in Putuo District, Wujiaochang Heshenghui in Yangpu District, and Qibao Vanke Plaza in Minhang District. This is Apple's eighth Apple Store retail store in Shanghai.
On March 5th, according to market research firm Counterpoint Research, Apple's iPhone sales in China decreased by 24% year-on-year in the first six weeks of this year, ranking fourth among smartphone suppliers in China. Its market share decreased from 19% in 2023 to 15.7%. Counterpoint data also shows that in the first six weeks of this year, Vivo, which has more models and a wider layout in the lower tier market, replaced Apple's top selling position.
On the contrary, Huawei's sales surged by 64% in the first six weeks, with a market share rising from 9.4% to 16.5%, surpassing Apple.
On February 1st local time, Apple released its Q1 2024 financial report (i.e. Q4 2023 performance).
The financial report shows that Apple's quarterly revenue was $119.58 billion, higher than analyst expectations of $117.97 billion, returning to year-on-year growth. In the first quarter, iPhone revenue was $69.7 billion, higher than the expected $68.55 billion.
Apple Financial Report
It is worth noting that Apple's first quarter revenue in Greater China was $20.82 billion, far below analyst expectations of $23.5 billion. Apple stated that it has achieved sales growth in all regions except Greater China, while sales in Greater China have decreased by nearly 13% compared to the same period last year.
According to Securities Daily, it is widely expected in the industry that due to market competition, Apple's annual smartphone shipments may experience a double-digit decline this year. Guo Minggui, an analyst at Tianfeng International, stated that the market consensus for iPhone shipments in 2024 was between 220 million and 225 million units. The revision has now begun and is approaching 200 million units.
As of the close of March 7th local time, Apple was at $169, a decrease of 0.07%, with a market value of $2.6 trillion.
Daily Economic News Comprehensive Apple Official Website, Securities Daily, Apple Financial Report, Minnan Net, Daily Economic News
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