Apple has to brace for a weakening of demand in China as shoppers have curbed to spend on anemic economy. Well, on Friday some analysts have given a warning, after the iPhone maker had mentioned that demand had rebounded in mid-June after the COVID-19 lockdowns had hampered the sales.

HIGHLIGHTS
Apple has seen immense fall in the Chinese market after COVID lockdown
iPhone maker said that its demand had rebounded in mid-June
Apple declared discounts on iPhones and other hardwares for Chinese customers

The iPhone maker on Thursday had reported that quarterly revenue in Greater China fell by 1%, it has been snapping a streak of strong quarters within the region.

Though, overall Apple's revenue rose by 2% which almost beats the estimates, the company had mentioned that there would be no delay in demand for iPhones globally, even though the macroeconomics indicators have been turning negative.

Apple boss Tim Cook had been cursing the drop in Greater China revenue on strict lockdowns in Chinese cities, that eventually forced millions of people to remain at home which had affected the Chinese economy.

He mentioned that 'We do have seen lower demand which was due to the COVID lockdowns within the cities and the COVID lockdowns have affected many things. However, we have seen a rebound in those same cities toward the end of the quarter in June timeframe.'

China's strict curbs to terminate COVID have undercut a recovery within the world's second-largest economy, with customer confidence hovering near record lows. The private investment have been slowing and youth unemployment would be at the record of 19.3%, prompting calls for more urgent government stimulus. 

Well, this week Apple had declared discounts on iPhones and other hardwares for Chinese customers. It is a move which is occassionally taken by the company when the sales are slow.

IDC analystWill Wong had mentioned that unlike in late 2020, when the demand for phones in China had surged after the first COVID lockdown, it has been noticed that the phone sales have been on the line to shrink.

He mentioned that 'It was not simply the lockdown but there were other factors, just like the government tech crackdown and also the slowdown on the property market, all have a negative effect on the customer sentiment.'

Apple has been set to release a new iPhone model in the autumn.

Also Read: Apple's Maker Unimicron resumes production in China in a Partial method