iPhone sales are up, but take a big hit in China

Apple's iPhone 15 Pro range

During Apple's Q1 2024 earnings announcement, Apple has reported that its total iPhone sales in China were $20.82 billion. It's a drop of 13% compared to the same period in 2023.

"The dollar is very strong versus the RMB," Tim Cook told CNBC. "And so that negative 13 goes to a mid-single digit number."

"So that's how we did on the phone last quarter," he continued. "The good news is that we're four out of the top six top selling smartphones in urban China."

Worldwide, Apple sold $69.7 billion in iPhones in the 2023 holiday quarter. This compares to $65.8 billion in the 2022 quarter

Previously, Apple saw a 4% drop year over year in iPhone sales over China's annual Singles Day in November. Despite that, other analyst figures claim that the long-running decline in China's smartphone sales has been stemmed, and Apple was most recently the top seller in the country.