Apple's iPhone shipments in China plunged 37% year-over-year in January, according to UBS analysis, marking the lowest monthly level since January 2019. The sharp decline follows unusually strong sales around the iPhone 17 launch late last year, when shipments rose 28% during the September-November period.

UBS analysts led by David Vogt noted the pullback appears consistent with the earlier surge, though monthly figures can be volatile. The January drop came after a 14% decline in December, suggesting weaker sell-through trends may emerge in coming months. Total smartphone shipments in China fell about 16% year-over-year during the same period.

Apple's market share in China dropped to roughly 11% in January from 14% a year earlier and 15% in January 2024. The company shipped approximately 2.2 million iPhones into the Chinese market last month. Meanwhile, Apple introduced the MacBook Neo, a lower-priced laptop starting at $599, as it seeks to expand in the price-sensitive PC segment while competitors face memory chip supply constraints.