Institution: China overtook the United States as the largest iPhone market for the first time

According to research firm TechInsights, global shipments of Apple iPhones in Q2 2023 decreased by 9.3% year-on-year to 43.1 million units, with a market share of 16.0%. This is Apple's largest year-on-year decline in the second quarter of the past 8 years (2016-2023). However, the profit margin of the iPhone is still far ahead of its competitors, at 2.75 times the revenue of Samsung's smartphones

According to institutional statistics, in the second quarter of 2023, China surpassed the United States for the first time, becoming the single market with the largest iPhone shipments, followed by the United States, Japan, the United Kingdom, and India. India is now an important strategic market for Apple in terms of sales and manufacturing. In Q2 2023, India was Apple's fifth largest market.

The institution stated that apart from macroeconomic factors, Apple did not launch the iPhone SE in 2023, which is also one of the reasons for the decline in Apple shipments in the quarter. In addition, demand in North America, Western Europe, and Japan is tepid, and Apple's performance is mixed. Driven by the increase in sales of the iPhone 14 Pro series models, Apple's average selling price (ASP) in the second quarter reached a historic high.

TechInsights predicts that the average selling price of the iPhone will further increase in Q3 and Q4 of 2023, driven by the iPhone 15 Pro model, which will use narrow border LIPO technology and titanium alloy material. It is expected that the iPhone 15 Pro model will be more expensive than previous models.