iPhone Sales Plummet 23% as Global Smartphone Market Shrinks
Apple experiences a massive 23% drop in iPhone unit sales, reaching its lowest second-quarter numbers since 2013. This significant decline drives half of the overall global smartphone market contraction.
Apple shows clear signs of weakness as iPhone unit sales drop 23% year-over-year, bringing the company to its lowest second-quarter performance since 2013. According to external researchers at Canalys, Apple sells 40.2 million iPhones this quarter compared to 52.2 million during the same period last year. Although Apple successfully raises the average selling price of its devices, iPhone revenue still falls 15% as the company struggles to maintain its historic dominance.
This severe Apple decline accounts for roughly half of the global smartphone market's missing units during a broader industry slump. The overall worldwide market shrinks 6.8% year-over-year, marking the sixth consecutive quarter of falling sales and the lowest quarterly unit total in nearly five years. While Apple falters, Chinese manufacturers like Huawei, Oppo, and Xiaomi buoy the broader sector, with Huawei alone seeing its unit sales surge more than 50%.
Apple is not the only non-Chinese phone maker suffering in this difficult environment. Google cites a rough smartphone market after delivering disappointing earnings, while Samsung experiences a 10% decline in its own unit sales. Moving forward, Apple faces the tough challenge of differentiating its products in the highly competitive Chinese market while continuing to squeeze consistent revenues from the regions where it still holds a leading position.