iPhone is looking at its weakest year since 2015 with a massive drop of 42% in the Jan-Mar quarter, according to reports.
iPhone sales are looking at its weakest year since 2015, with a massive drop of 42 percent in the January to March quarter, according to an Economic Times report.
Credit Suisse had said that iPhone sales will decline by 12.4 percent this year as per Seeking Alpha. In India, iPhone shipments dipped to 220,000 units in the January to March quarter.
Earlier this year, there were reports of Apple cutting back on hiring as iPhones contributed a majority to the company’s revenue ( 60 percent in 2018) and lower sales projections could indicate cost reduction requirements.
Experts felt that users are holding to their phone longer due to price hikes. The daily had reported that the month of April had seen three times more shipments due to heavy discounts that were offered but sales declined again in May-June due to competition from China’s premium OnePlus 7 launch.
The Indian Cellular and Electronics Association (ICEA) had said in a note to the finance ministry that changes to basic customs duty on high-end devices in the upcoming Union Budget could recover Rs 1,100 crore for the exchequer, curbing the sale of grey-market phones by about Rs 5,000 crore. If the benefit is passed on to the customers, iPhones will become cheaper.
There were reports in April of Apple shifting to local manufacturing after the American technology giant’s Taiwanese manufacturing partner, Foxconn, had stated that US iPhones could be made outside China if needed. There is no official confirmation from Apple or Foxconn on the matter.There is an estimation of 200,000-250,000 unit capacity per month initially Foxconn manufactures in India.Due to deeper structural changes in light of the ongoing US-China trade war, Apple will need a new strategy to grow the numbers in China and might expect a turnout by 2020 with the launch of its 5G-compatible model.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.