以下文章来源于巨潮WAVE ，作者谢泽锋 巨潮WAVE . 融入时代巨潮，发现商业决策。 全球贸易格局中，由于产业禀赋不同，以贸易顺差逆差排名，中国是最大的商品输出国，而美 国则是最大的买入国。这也就是很多人将美国定义为"中国最大甲方"的根据。 但对于以苹果为代表的美国国际型公司来说，除本土市场之外，中国无疑是其最大甲方。仅在 中国市场，去年苹果就豪取了646亿美元收入，接近1个中国电信，相当于3个贵州茅台或6个长 江电力（三峡+葛洲坝）。 这样的体量，应该是所有外资企业在中国收入规模最大，甚至可能不用加"之一"。大量中国的 中产阶层迷恋于苹果产品，甘愿为其付出超高的毛利率并保持极高粘性。 然而面对最大的甲方，苹果却并不像一个真正的乙方：稍有风吹草动，苹果便秉持利益最大化 的原则，裹挟各家企业下南洋，驻印度，引导中国企业利益与本土社会价值进行剥离。 对于中国供应商，苹果长期采取"养狼"策略，一边压榨现有供应商利润，将绝大部分利润留在 自家后花园；一边扶持培养二供三供，防止主供做大威胁到自己的利益。 来源 | 巨潮WAVE 关税大战氛围笼罩下，全球市值最大，亦是最赚钱公司之一的苹果，继续着它的"脱钩之路"。 靠 ...

Core Insights - Xiaomi emerged as the top smartphone vendor in China for Q1 2025, with a shipment of 13.3 million units, capturing 18.6% market share, marking a significant increase of 39.9% year-over-year [1][2][6] - Huawei followed closely with 12.9 million units shipped, achieving an 18.0% market share and a year-over-year growth of 10.0% [2][6] - OPPO and Vivo maintained their positions with shipments of 11.2 million and 10.3 million units respectively, while Apple saw a decline in shipments to 9.8 million units, a drop of 9.0% year-over-year [2][8] Shipment and Market Share - Xiaomi's Q1 2025 shipment: 13.3 million units, 18.6% market share, up from 9.5 million units and 13.8% market share in Q1 2024 [2] - Huawei's Q1 2025 shipment: 12.9 million units, 18.0% market share, up from 11.7 million units and 17.0% market share in Q1 2024 [2] - OPPO's Q1 2025 shipment: 11.2 million units, 15.7% market share, up from 10.9 million units and 15.7% market share in Q1 2024 [2] - Vivo's Q1 2025 shipment: 10.3 million units, 14.4% market share, up from 10.1 million units and 14.6% market share in Q1 2024 [2] - Apple's Q1 2025 shipment: 9.8 million units, 13.7% market share, down from 10.8 million units and 15.6% market share in Q1 2024 [2] Activation Volume - Xiaomi led in activation volume for March 2025 with 324.37 thousand units, a year-over-year increase of 16.99% [4] - Huawei followed closely with 322.96 thousand units activated, showing a year-over-year growth of 19.87% [4] - Vivo and OPPO experienced declines in activation volumes, with Vivo at 288.68 thousand units (down 2.71%) and OPPO at 271.05 thousand units (down 7.69%) [4] - Apple recorded 255.65 thousand units activated, a decrease of 9.86% year-over-year [4] Product Performance - Xiaomi's 15 series achieved approximately 3.93 million activations by early April 2025, indicating strong performance in the high-end segment [5] - The Redmi K80 series also performed well, surpassing 3.32 million activations [5] - Huawei's Mate series and nova series continued to perform well in the market, contributing to its growth [6] - OPPO's Find X8 series was noted as one of the best-selling models, while Vivo's performance was stable with a slight increase [8] Market Outlook - The competitive landscape remains strong with Xiaomi, Huawei, OPPO, and Vivo all achieving notable results, while Apple faces challenges in maintaining its market share [10] - The domestic market is expected to continue to see aggressive competition, particularly from local brands that are increasingly matching or exceeding Apple's offerings in various aspects [10]