Apple Faces Declining iPhone Sales and Legal Challenges

Company's market share in China drops as rival Huawei gains, amidst falling share prices and looming legal issues in the US.

Apple's iPhone sales in China have fallen by more than 30% in the first week of 2024, with analysts predicting a double-digit decline for the year.
Apple's market share in China has fallen around 4% year over year, while local rival Huawei has seen its share rise 6%.
Apple's share price has declined by 8.5% since its peak in December, a drop worth $260bn in market value terms.
Apple is facing legal issues in the US, including a potential major anti-monopoly case and a patent infringement lawsuit over the Apple Watch.
Apple is launching its augmented reality headset, the Vision Pro, on February 2, 2024, in an attempt to revitalise its business.