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The whole smartphone market in China is getting hit badly, however Apple is gaining marketshare with the iPhone 14 regardless of decrease shipments than 2021.
Provide points in China have vastly impacted iPhone 14 Professional availability since shortly after its launch in September. Delivery occasions have improved since then, however Apple continues to be set to see a complete decline in iPhone gross sales because of this.
In accordance with a mixed report from J.P. Morgan and China Academy of Info and Communications Know-how seen by YourNextApp, shipments declined by about 14% if information from September and October 2022 are aggregated to account for the later iPhone 13 Professional transport dates in 2021. With out that aggregated information, iPhone shipments present a 30% decline 12 months over 12 months in October.
That prime -30% quantity solely signifies that demand was increased in October 2021 due to the late September launch date of the iPhone 13 versus mid-September for the iPhone 14.
Regardless of this decline, Apple noticed its market share in China improve by about 1% 12 months over 12 months. In 2021 it was at about 21% market share and is at 22% market share in 2022. That is as a result of Chinese language smartphone market seeing demand decreased by 18% total 12 months over 12 months.
Since iPhone demand decreased at a slower fee, Apple was in a position to take extra market share.
The J.P. Morgan be aware additionally mentions that 5G smartphones made up about 80% of complete shipments in October. That is up from 79% of shipments in October 2021.
The info from this report solely covers info via October. J.P. Morgan notes that November and December will present a larger impression from the COVID lockdowns and subsequent protests in Zhengzhou.
J.P. Morgan maintains its chubby score of Apple inventory with a value goal of $190.