While Apple’s Q3 2023 earnings call said that its iPhone segment made $39.67 billion for the three-month period, this figure was 2% lower than the same quarter last year. While that is still an unusually substantial chunk of change, it underscores a trend that even the technological behemoth has recognized and has no option but to acknowledge: the U.S. smartphone market has been in decline for some time. Naturally, this will cause the company to lessen its reliance on its largest cash cow, but this is easier said than done.
Apple’s entry into the US smartphone market comes only weeks before the release of the iPhone 15, which is expected to include additional unique features.
For those who are unaware, the United States smartphone market is Apple’s primary priority because it generates the majority of the company’s income. With this realization, the corporation will most likely adjust its strategy to either enhance its other revenue-generating divisions or grow aggressively in regions other than the United States. According to Bloomberg writer Mark Gurman’s ‘Power On’ newsletter, the collapse of the U.S. smartphone market poses a problem for the iPhone 15 series, which is reported to arrive with many exclusive features, notably the ‘Pro’ versions.
“After announcing slow iPhone sales on Thursday, which sent Apple shares down, the firm revealed that “the smartphone industry in the United States has been in decline for the previous couple of quarters.”
This poses a hurdle for the upcoming iPhone, which is expected to be the most significant change to the handset in three years. When Apple releases big phone updates, such as the iPhone 6 in 2014, iPhone X in 2017, and iPhone 12 in 2020, the new features generally sell themselves. In previous examples, the business launched major upgrade cycles by introducing larger displays, redesigned designs (with no home button in the case of the X model), and 5G connectivity.“
Fortunately, Apple’s Christmas quarter is approaching, and assuming that the firm does not have the same manufacturing issues that hampered the iPhone 14 Pro and iPhone 14 Pro Max shipments last year, its Q4 2023 earnings call should provide some good news for the Cupertino corporation. It should be noted, however, that the c and iPhone 15 Pro Max are rumoured to undergo a price increase later this year, as that is what users must pay to experience the company’s latest and finest.
In the United States, the iPhone 15 Pro may start at $1,099 for the base model rather than $999, and this adjustment may have an influence on future shipments. Fortunately, there is a glimmer of optimism, as Apple disclosed during its Q3 2023 earnings conference that its ‘Services’ segment produced $21.21 billion in sales, accounting for 26 percent of the company’s $81.8 billion total, suggesting that a tiny portion of its emphasis may be transferred there. The iPhone 15 is expected to be released in the middle of September, so we’ll find out how Apple fared in a few months.
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