2022 – iPhone sales falter in the world’s leading smartphone market

quickly. Can you name the largest smartphone market in the world? If you say India, you are wrong. Want to guess again? United States of America? No, the answer is China. And the AppleInsider was able to take a look at a note written to Morgan customers by JP Morgan analyst Samik Chatterjee about Apple and the Chinese market.

Chatterjee analyzed the latest smartphone data published by the Chinese Academy of Information and Communications Technology and found that the information for the month of April 2022 showed that 1.7 million international phone shipments were sent in China that month. Most of those shipments were iPhone models, although the total number of phones shipped was 45% less than the usual historical average of 3.1 million.

In April, total smartphone shipments in China fell 26% compared to the previous quarter. Following this trend, iPhone shipments in China fell 16% from March to April. In previous years, shipments of iPhone models tended to increase by up to 27% over the same period. Despite the decline, China’s international phone shipments accounted for 9% of the country’s smartphone market. While this is down from 11% in March, it is still above the historical average of 8%.

As of last October, international phone shipments accounted for 19.2% of smartphone sales in China. That’s up from 15.8% of all Chinese smartphone sales that came from international shipments last year.

Chatterjee 12-month target price is $200 Apple, which he calculated by multiplying its 2023 financial earnings estimate of $6.73 per share by a price-to-earnings multiple of 30. Apple shares closed at $149.64 Friday, sending the stock 34% below the analyst’s price target.

Source site – 33