Jakarta, CNBC Indonesia – Ahead of the launch of the iPhone 15 on September 12, the Chinese government suddenly announced new regulations that shocked the technology industry.
China prohibits the use of iPhones among government employees. This triggered market panic. Apple shares fell 6.4% in the two days after the announcement was made.
Apple’s market capitalization was reduced by US$ 190 billion. Wall Street analysts predict Apple will take a heavy hit in terms of revenue. However, after 2 years of decline, Apple shares grew 1.3% on Friday last week.
Huawei Mate 60 Pro Becomes iPhone Replacement in China
Apple’s position in China could be threatened by Huawei, which recently released two flagship cellphones, namely the Mate X5 folding cellphone and the Mate 60 Pro series. The second model also caused a stir because it was discovered that it supports the 5G network.
In fact, since 2019, the US has banned the export of chip technology to prevent Huawei from producing 5G cellphones.
Quoted from Reuters, Monday (11/9/2023), Huawei’s new cellphone is China’s first step in seeking a ‘local champion’. China seems to want to take Apple’s market share to local manufacturers.
“We believe Huawei’s move this time was prepared, not suddenly,” said Ivan Lam, an analyst at research firm Counterpoint.
“The launch of Huawei’s new cellphone can change people’s psychology. This method is effective in reducing people’s buying interest before the launch of the iPhone 15,” he explained.
China is an important market for Apple. The Bamboo Curtain country is the third largest place for iPhone sales after America and Europe.
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