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Apple Inc.: Strong Performance in Challenging Smartphone Market


Despite a global downturn in smartphone shipments, Apple Inc. (AAPL) continues to thrive in the market. According to the International Data Corporation’s Worldwide Quarterly Mobile Phone Tracker, Apple’s iOS devices, including the iPhone, are expected to achieve a remarkable growth of 1.1% in 2023, reaching a record-high market share of 19.9%. In stark contrast, Android devices are projected to experience a 6% decline during the same period.

Apple’s positive outlook comes ahead of the highly anticipated unveiling of their new iPhones on September 12th. On the other hand, Alphabet Inc.’s Google (GOOGL, GOOG) plans to launch its Pixel 8 phones on October 8th.

The smartphone industry as a whole is expecting a decline of 4.7% in global shipments in 2023, marking its lowest volume in a decade, according to IDC. This downward trend is primarily attributed to weaker economic conditions and inflation, which have dampened consumer demand and led to longer refresh cycles. Initially, market researchers predicted a 3.2% decrease in shipments.

Despite the challenging forecast for 2023, IDC predicts a recovery in the market starting in 2024, with an anticipated year-over-year growth of 4.5%. The following years are expected to see growth in the low single digits throughout the forecast period, resulting in a five-year compound annual growth rate of 1.7%.

In the United States, smartphone shipments experienced a significant decline of 24% during the second quarter. This marks the third consecutive quarterly decline, as reported by IDC. Among the affected companies, Samsung Electronics Co. (005930), Motorola, and TCL-Alcatel saw the sharpest decreases in shipments.

Overall, despite challenging market conditions, Apple Inc. remains resilient and poised for growth in the coming years.

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