Consumer electronics giant Apple (AAPL) has continued to see sales momentum in China, its second-largest market, following the release of the iPhone 17 series in September.
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New data from research outlet Counterpoint shows that Apple devices, particularly the iPhone 17, were central to driving smartphone sales higher during China’s recent Singles’ Day shopping festival.
Apple Accounts for 26% Smartphone Sales
During the months-long event, which is the world’s biggest shopping activity, 26% of all smartphones sold were Apple’s. Apple’s sales during the event across all models rose by 3% from a year ago.
The research firm’s report also shows that smartphone sales rose 3% year-over-year during the core three-week period of the event, despite Chinese authorities tightening the availability of the government’s trade-in national subsidy scheme for smartphones, tablets, and wearables.
Rival Xiaomi (XIACF) trailed Apple’s sales, accounting for 17% of smartphone purchases. However, Xiaomi’s sales fell year-over-year due to the launch of the Xiaomi 17 series in late September.
Minus Apple sales, 5% fewer smartphones were purchased across all brands by the festival’s end on November 11th — that is, when compared to a year ago.
This shows Apple’s resilience in a Chinese market where consumers are worried about economic uncertainty, even as observers have noted that this year’s festival failed to excite broader consumer spending.
Apple to Overtake Samsung in Smartphone Market Share
Meanwhile, the Singles’ Day report from China adds to the momentum that has greeted Apple’s latest efforts to up its smartphone sales. Another report from the research outlet shows that Apple is set to overtake South Korean consumer electronics heavyweight Samsung (SSNLF) in global smartphone sales in 2025 — the first time in 14 years.
At the end of this year, Apple is expected to sell 243 million iPhones compared to 235 million units by Samsung. This sales boost is estimated to hand Apple 19.4% of the smartphone market share compared to Samsung’s 18.7%.
Is Apple a Good Buy Now?
On Wall Street, Apple’s shares currently hold a Moderate Buy consensus rating. This is based on 21 Buys, 12 Holds, and two Sells issued by 35 analysts over the past three months.
At $289.17, the average AAPL price target suggests about 4% upside potential.
See more AAPL analyst ratings here.