Canalys’ new report on the worldwide smartphone market reveals that Apple’s market share saw 3% Year-on-Year growth in Q2, 2022. The Cupertino tech giant has continued to perform well in a smartphone market that experienced a 9% Y-o-Y decline in the second quarter of 2022 because of weak demand due to economic headwinds and other uncertainties, worldwide.
Recently, Reuters also reported that iPhone 13 sales remained strong even in July, only months ahead of the launch new iPhone 14 series. However, other OEMs have taken a hit.
“Others are starting to take a hit,” one of the sources said.
The second source said July shipments for the iPhone 13 from one factory were a third higher than July last year. That pattern was especially unusual because sales of current iPhone models tend to slow down in July and August as consumers await new models that Apple traditionally releases in September.
Strong demand for the iPhone 13 series propelled Apple’s growth in Q2, 2022
Apple’s iPhone shipments grew from 15% in Q1, 2021 to 17% in Q2, 2022 because of “robust” demand for iPhone 13 series.
The report also mentions that Samsung led the smartphone market in Q2, 2022 with a 21% share because the company improved the supply of its low-range A series smartphones.
Samsung took first place with a 21% market share as it strengthened its low-end A series supply. Apple came second with a 17% share as the iPhone 13 remained in high demand. Xiaomi, OPPO and vivo continued to struggle in China, suffering double-digit declines to take 14%, 10% and 9% market shares respectively.
Inflation and a looming recession have compelled consumers to focus on purchasing lower-end products. And Canalys’ analysts detail that economic concerns have forced vendors to reassess “their portfolio strategies for the rest of 2022”, focusing more on low-end devices rather than oversupplied mid-range devices.
However, unlike others, Apple is going to launch new premium range iPhone 14 series in September this year amidst economic headwinds. In an interview, the tech company’s CEO Tim Cook said that the company does not stop innovating and launching new products in fear of a bad economy.
Addressing economic concerns of an imminent recession, Tim Cook said that important things can not be put on hold because of a bad economy like climate change, privacy, and preparing products for everyone. Cook believes that a company should continue investing in those areas and even more when the times are hard. Therefore, Apple invests in long-term goals.