Apple Aims to Keep iPhone Shipments Steady Despite 2023 Turmoil
$Apple (AAPL.US)$ is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, according to people familiar with the matter.
The company is aiming to hold shipments steady despite tumult in the global economy and a projected decline in the overall smartphone market. It’s likely to increase revenue overall because Apple is considering raising the price for Pro models, said the people, who asked not to be identified because the targets aren’t public.
The company is aiming to hold shipments steady despite tumult in the global economy and a projected decline in the overall smartphone market. It’s likely to increase revenue overall because Apple is considering raising the price for Pro models, said the people, who asked not to be identified because the targets aren’t public.
The fortunes of Apple, the world’s most valuable company, reverberate through the global economy, driving business for thousands of suppliers and fueling employment for millions from the US and China to Vietnam and India. Its stock has surged almost 50% this year, pushing its market capitalization to $3 trillion.
Phone sales have declined for eight consecutive quarters, including an 8% drop in the June quarter, according to Counterpoint Research. Chinese Android brands Vivo and Xiaomi both suffered declines of more than 10%.
Counterpoint estimates that Apple’s sales slid 2% in the most recent quarter, but its market share rose to 17% because of continuing growth in demand for phones selling at $600 or more.
“Apple is riding this ‘premiumization’ wave, reaching record shares in multiple new markets which are typically not considered its core markets,” Counterpoint analysts wrote in the report. “A prime example is India,” they said, where Apple grew 50% year over year in the second quarter.
— With Mark Gurman
Counterpoint estimates that Apple’s sales slid 2% in the most recent quarter, but its market share rose to 17% because of continuing growth in demand for phones selling at $600 or more.
“Apple is riding this ‘premiumization’ wave, reaching record shares in multiple new markets which are typically not considered its core markets,” Counterpoint analysts wrote in the report. “A prime example is India,” they said, where Apple grew 50% year over year in the second quarter.
— With Mark Gurman
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