Q2 ’23: Apple: China’s iPhone Shipments Surpassed US’ For The First Time
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Apple iPhone shipments declined -9.3% YoY in Q2 2023 to reach 43.1 million units and 16.0% market share. This is the highest second quarter annual decline for the vendor in the last 8 years from 2016 till 2023. Apart from macroeconomic factors, no newly launched iPhone SE model in 2023 compared to one in 2022 adds to the decline this quarter. Also, tepid demand in North America, Western Europe and Japan is largely attributable to Apple’s mixed performance. Interestingly, China surpassed US being the largest single market for iPhone for the first time ever. Also, Apple registered its highest ever second quarter ASP driven by higher mix of iPhone 14 series Pro models.
