China's Smartphone Shipment Plunges By 32% In February

Shipments of smartphones within China plummeted 31.8% year-on-year to 14.5 million handsets in February, Reuters reports from the China Academy of Information and Communications.
CAICT cited that the handset brands currently face production issues due to the global chip crisis, including delayed customer upgrades.
Also Read: Falling Chip Prices Are Making 5G Phones More Affordable
A demand miscalculation, random factory shutdowns, and U.S.-China strains prompted several automobile companies to report chip sourcing issues.
Apple Inc’s AAPL key position in China helped it to account for 51% of the global smartphone sales for the first time.
The shipments plunged 21.3 million handsets in February 2021 and 32.4 million in January 2022.
Price Action: AAPL shares traded lower by 0.11% at $163.80 in the premarket on the last check Monday.