Apple Inc, which introduced new 5G iPhones with a starting price of 5,499 yuan (US$809) on Tuesday, aims to expand market share in China, already the world’s top premium smartphone market, industry insiders say.
In 2020, China is expected to account for 29 percent of the global market for smartphones above US$600, compared with just 16 percent in 2018, according to researcher Canalys. Meanwhile, the US will account for 26 percent of the market this year.
“China has long been the world’s largest smartphone market by volume. In the second quarter, China overtook the US to become the largest market for premium smartphones above US$600,” said Ben Stanton, a senior analyst of Canalys.
So far this year, Chinese smartphone vendors, such as Huawei, Vivo and Oppo, led the domestic premium market with 5G and advanced camera features. Apple expanded in China with the iPhone 11 and cheaper SE models which didn’t support 5G.
Apple’s newest iPhone models will be available for pre-order in China on Friday. The devices will “target stubborn upgraders at the high-end markets,” said Stanton.
Read more in Shanghai Daily