Apple’s iPhone shipments likely surged in June in China, leading a rebound in the smartphone market after the Chinese Communist Party’s quixotic “zero-COVID” lockdowns lifted, Bloomberg News reports.
China’s mobile phone shipments jumped 9.2% last month, led by overseas vendors such as Apple and Samsung Electronics Co. while domestic brands like Xiaomi Corp., Oppo and Vivo were down 0.5%, official data showed. Samsung no longer commands a significant share of the country’s smartphone market whereas Apple is the fourth-largest player, suggesting the bulk of the rebound in demand was for iPhones.
Chinese smartphone makers have struggled to stir excitement for their handsets this year, hurt by rising costs and souring consumer sentiment… Research firm Canalys said this week that all the Chinese smartphone powerhouses saw declines in their global second-quarter shipments.
This past June saw 24.5 million mobile phones shipped by domestic firms, down from 24.6 million the prior year. International companies, on the other hand, went from 1.1 million units to 3.5 million, figures from the China Academy of Information and Communications Technology showed.
MacDailyNews Take: Apple is scheduled to report third fiscal quarter results after market close on Thursday, July 28, 2022. Analysts’ consensus expects Apple to post revenue of $82.47 billion and $1.16 earnings per share.
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