Apple's iPhone 16 Sales In China Are Up 20%: Report

Sales of Apple’s (AAPL) new iPhone 16 have gotten off to a strong start in China, rising 20% in their first three weeks of availability compared with the previous smartphone model.

Data from research firm Counterpoint has found that sales of the iPhone 16, which promises compatibility with artificial intelligence (A.I.) features, are running ahead of iPhone 15 sales at this time last year.

Counterpoint said that both the iPhone 16 Pro and Pro Max models are selling particularly well in China, with their combined sales rising 44% compared with their equivalent 2023 models.

However, overall iPhone sales in China declined 2% year-over-year during the three-week period because of decreased sales of older models and rising domestic competition.

Both Apple and Chinese firm Huawei's latest smartphones went on sale in China on Sept. 20, demonstrating growing competition in the nation of 1.4 billion people.

Analysts and investors will be watching to see how Apple’s iPhone 16 models are selling when the company next reports its quarterly financial results on Oct. 31.

The stock of Apple has risen 25% so far in 2024 and currently trades at $232.15 U.S. per share.