Apple Inc. sold 5% fewer iPhones globally and lost ground to Chinese rivals in the final quarter of last year, reflecting the absence of Apple Intelligence in its largest market outside the US.

Apple's iPhone sales fell 5% globally according to Counterpoint Research data, with the company facing tougher competition from Chinese smartphone rivals. Bloomberg's Mark Gurman joins Caroline Hyde and Mike Shepard on "Bloomberg Technology" to discuss.

Multiple research firms say Apple Inc. saw its iPhone sales fall by about 5% globally in the final quarter of last year. Apple’s artificial intelligence software, called Apple Intelligence, failed to stir up strong demand,