苹果在中国营收再下滑27亿，但库克嘴很硬：已有所改善了

Core Insights - Xiaomi and Huawei are the top two smartphone brands in China's market, while Apple has dropped to fifth place with an approximate 8% decline in sales [1][2] - Apple's revenue in Greater China has decreased by 2.26% year-on-year, amounting to a loss of approximately $370 million [5][7] - The overall smartphone market in China is experiencing growth, particularly for domestic brands like Xiaomi and Huawei, which have seen significant increases in sales [9][11] Market Performance - In Q1 2025, Xiaomi shipped 13.3 million units, capturing 19% market share, while Huawei shipped 13.0 million units with an 18% share [2] - Apple's shipments fell to 9.2 million units, representing a 13% market share, down from 15% in the previous year [2] - The total smartphone market in China saw a shipment of 70.9 million units in Q1 2025, up from 67.7 million units in Q1 2024 [2] Revenue Analysis - Apple's total revenue for Q1 2025 was $95.359 billion, a 5% increase year-on-year, with net profit rising to $24.780 billion [3] - Revenue from the Greater China region was $16.002 billion, down from $16.372 billion in the same quarter last year [5] - Other regions, including the Americas, Europe, Japan, and Asia Pacific, reported revenue growth, contrasting with the decline in China [3] Competitive Landscape - Xiaomi's flagship models have been performing well, directly competing with Apple's offerings [9] - Huawei has been focusing on the high-end market with its Mate and Pura series, as well as foldable phones, further intensifying competition against Apple [9] - The domestic subsidy policies favor local brands like Xiaomi and Huawei, making it challenging for Apple to maintain its market position [11]