Smartphone shipments fell 9% in Q2 but Apple iPhone remains in high demand despite inflation pressure

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  • Demand for worldwide smartphone shipments has started to wane, falling 9% year on year in Q2 2022.
  • Apple had a 17% share of global phone shipments in Q2, up from 14% in the year-ago quarter, Canalys said, noting that the iPhone 13 remains in high demand.

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Shipments of Apple’s iPhone remain strong despite regional uncertainty and economic headwinds that dragged global phone shipments down 9% year-over-year in Q2 2022, according to new data from research firm Canalys.

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Apple had a 17% share of global phone shipments in Q2, up from 14% in the year-ago quarter, Canalys said, noting that the iPhone 13 remains in high demand. Samsung has the largest share with 21% of the market, according to Canalys, but that was largely thanks to its low-end A series phones that cost less than the iPhone 13.

Apple is set to report earnings on July 28. The company’s chief financial officer Luca Maestri warned in April of challenges the company is facing this quarter, including supply constraints that could hit total sales by up to $8 billion. The steady appetite for Apple’s iPhone 13 suggests Apple’s phone revenues may be strong, despite Maestri’s warning.

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Canalys analyst Toby Zhu said phone promotions and special offers will help alleviate supply pressure but warned that consumers have been impacted by inflation and don’t have as much disposable income to buy new phones as last year. And there are still kinks in the supply chain.

“While component supplies and cost pressures are easing, a few concerns remain within logistics and production, such as some emerging markets’ tightening import laws and customs procedures delaying shipments,” Canalys Analyst Toby Zhu said.

Chinese phone makers may be facing the brunt of those problems. Xiaomi, Oppo and Vivo all suffered double-digit declines, respectively taking 14%, 10% and 9% market share.

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Credit: www.cnbc.com /

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