Apple’s iconic iPhone set a new all-time 85% profit share high from global smartphone sales in 2022, navigating a challenging year for the industry far better than Android phone peddlers.
Vlad Savov for Bloomberg News:
The Cupertino, California-based tech giant collected 85% of operating profit and 48% of revenue from smartphone sales over the course of the year, new Counterpoint Research estimates showed. Both were new peaks for the company, 15 years into the iPhone’s time on the market, and the firm’s flagship device also scored its biggest proportion of global smartphone shipments.
In 2022, worldwide smartphone shipments fell by double digits, most severely in China, and those profits dwindled for the majority of companies.
[Apple]’s profit lead on peers would have been even greater if it had been able to ship more of its top-tier devices [iPhone 14 Pro and flagship iPhone 14 Pro Max] in the final quarter of the year, the research firm said.
MacDailyNews Take: Apple is best-positioned to weather inflation and recession due to its superior customer demographics.
We’ve been covering Apple in these pages for over 20 years and have seen Apple perform through multiple recessions.
It’s the non-Apple tech companies that are most at risk during a consumer spending slowdown since their consumers have less, and/or are less willing, to spend. Apple will be just fine, even in a recession. And, during any stock price declines, Apple’s massive buyback plan will be even more effective in retiring shares and providing support for shareholders. – MacDailyNews, October 4, 2022
Apple’s consumer demographics suggest that it could be resilient, even amid inflation. Plus, a very strong profit margin gives the company plenty of flexibility to absorb rising prices should the need arise. – MacDailyNews, November, 11, 2022
The most inflation- and recession-resistant big tech company is Apple, thanks to its superior customer demographics. – MacDailyNews, October 27, 2022
Apple iPhone customers are the most recession-proof smartphone buyers. — MacDailyNews, September 7, 2022
The same goes for Mac, iPad, Apple Watch, and Apple Services customers in personal computers, tablet computers, smartwatches, and subscriptions, respectively. – MacDailyNews, October 13, 2022
When your money becomes a greater concern, you want to spend it wisely… If it’s not an iPhone, it’s not an iPhone. Further, if it’s not an iPhone Pro, it’s not an iPhone Pro. – MacDailyNews, October 27, 2022
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