Apple Stock News: Upcoming Mass Production of iPhone 14 Models
Apple Stock News: While some iPhone 14 components have faced supply chain issues, Apple analyst Ming-Chi Kuo believes they will have a limited impact on the mass production of the iPhone 14 model, which will be announced in September. Kuo said in his tweet that other suppliers could help make up the parts shortage. For example, Mr. Kuo said Samsung Display and BOE could essentially fill the initial supply gap created by LG Display over the appearance of Display panels on the iPhone 14 and iPhone 14 Max. Kuo also said LG Display shouldn’t take too long to fix the problem.
Apple Expands Mobile Market Share in China on Strong iPhone 13 Demand
Despite the overall slowdown in China’s mobile market this year, Apple has increased its smartphone market share in the country thanks to strong sales of the iPhone 13. According to Strategy Analytics, 14 million smartphones were sold during the June 18 online shopping festival nationwide, a decrease of 25 percent year on year. Chinese brands such as Xiaomi, OPPO, and Vivo saw a sharp drop in shipments, but iPhone sales remained relatively stable. Demand for the iPhone 14 is expected to keep Apple’s momentum going, especially given Huawei’s withdrawal from high-end 5G smartphones in China, which Apple currently dominates, according to analyst Kuo.
Apple sold nearly 7 million iPhones over the holiday period, outpacing its rivals, and the company leads all major commercial platforms in revenue share. “Apple has consolidated its leadership position at the expense of Chinese brands,” the industry analyst said.
The Chinese market mirrors global trends: according to a recent report by Canalys, global smartphone shipments fell 9% in the second quarter of 2022, while Apple’s market share was 17%, up by 3%. While Samsung’s share rose by the same amount to 21 percent, Chinese vendors Xiaomi, Oppo, and Vivo saw their market share fall to 14 percent, 10 percent, and 9 percent respectively.
Apple Plans to Slow Hiring and Spending Next Year
Apple plans to slow hiring and spending in some divisions next year because of a potential recession, according to Bloomberg’s Mark Gurman. The report said the decision was not company-wide policy and would not affect all teams within Apple. Apple provided “lower-than-expected budgets” for R&D, resources, and hiring spending for specific teams in 2023, adding that some teams would not expand or maintain headcount next year.
Apple’s purportedly planned slowdown in hiring and spending in 2023 comes at a particularly uncertain time, with the COVID-19 pandemic, the Russia-Ukraine war, and high inflation raising fears of a drop in consumer spending and a recession.