苹果“背水一战”，iPhone成618手机销量王

Core Insights - The iPhone 16 Pro and iPhone 16 Pro Max topped the sales charts on major platforms like JD and Tmall during the 618 shopping festival, indicating strong consumer demand despite previous sales challenges in China [1][4]. Sales Performance - Apple regained the top spot in smartphone sales in China as of May, with a global sales increase of 15% year-over-year in April and May, primarily driven by recovery in its largest markets, China and the U.S. [3] - In the Greater China region, Apple reported a revenue of $15.033 billion for Q4 FY2024, a slight decline of 0.34% year-over-year, and an annual revenue of $66.952 billion, down 7.73%, marking it as the only region with negative growth [3]. Pricing Strategy - Apple implemented significant price reductions for the iPhone 16 series, with discounts exceeding 2,600 yuan on various models, aimed at boosting sales during the 618 event [6][10]. - The pricing strategies varied across platforms, with Tmall offering the most competitive prices, such as the iPhone 16 Pro Max 256GB at an estimated price of 7,408 yuan after discounts [6][8]. Market Dynamics - The aggressive pricing strategy is seen as a move to clear inventory and restore consumer confidence, with Apple having previously adjusted prices ahead of major sales events [10]. - Morgan Stanley maintained an "overweight" rating on Apple, projecting a revenue increase of up to $4 billion in Q2 due to strong sales during the 618 festival and government subsidies [11]. Production and Future Outlook - iPhone production is expected to reach 46.5 million units in Q2, a 19% increase year-over-year, with iPad production also showing significant growth [11]. - Despite the strong demand in Q2, there are concerns that sales growth may slow down post-618, and Apple's production in India is projected to increase significantly by 2025 [13]. Competitive Landscape - Apple faces challenges from domestic brands in areas such as AI photography and system integration, which may impact its market position [14]. - The company appears to be adopting a more pragmatic approach in the Chinese market, balancing promotional strategies with the need for innovation [14].