In the latest move, analyst Ming-Chi Kuo of TF International Securities said that Apple's iPhone sales will likely be affected this year, largely due to the growing popularity of foldable phones, and the revival of Huawei phones in the Chinese market.
According to Ming-Chi Kuo's latest supply chain survey, Apple is said to have reduced its 2024 iPhone shipments — which include the existing iPhone 15 lineup and the iPhone 16 later this year — to 200 million units, which could result in a 15% year-over-year decline in iPhone shipments.
Analyst Ming-Chi Kuo said Apple's "shipment momentum and ecosystem growth" will gradually decrease in the meantime. (Photo: dmarketforces)
He attributed the decline to factors including slowing iPhone sales in China, saying: “Apple’s weekly iPhone shipments in China have fallen 30–40% year-over-year in recent weeks, and this downward trend is expected to continue.”
“Apple could see the most significant shipment decline among major global mobile phone brands in 2024,” writes Ming-Chi Kuo.
In addition, according to Ming-Chi Kuo, Huawei's return as a leading smartphone maker, along with "high-end users' growing preference for foldable phones as their first choice" in the Chinese market, are the main reasons for the potential decline in the iPhone. New phone designs that integrate generative AI technology are also changing the market.
On the other hand, Samsung has increased shipments of its new Galaxy S24 series this year by 5% to 10%, seeing “higher-than-expected” demand thanks to AI-powered features. Meanwhile, Apple has also lowered its iPhone 15 shipment forecast for the first half of 2024, he added.
Looking ahead to the iPhone 16 series due later this year, Kuo says we shouldn’t expect significant design changes or new AI features this year. “ Apple is not expected to launch new iPhone models with significant design changes and a more comprehensive/differentiated GenAI ecosystem/application until 2025 at the earliest. So until then, it will likely hurt Apple’s ecosystem momentum and iPhone shipment momentum,” he writes.
HUYNH DUNG (Source: CNBC/9to5mac)
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