Apple has recorded a year-over-year revenue on iPhone sales globally according to a report by Counterpoint Research.
The data suggests that the Cupertino tech giant managed to hit a 10% increase during the third quarter as more 5G-compatible devices come to the smartphone market.
Apple iPhone Revenue Skyrockets in Latest Quarter
(Photo : Jess Bailey Designs from Unsplash)
As Apple's iPhone revenue shoots up, Vivo and other Chinese smartphone makers suffer negatively.
As CounterPoint mentions in its report, the iPhone maker has completed 46% of shipments over the past quarter which is a new record for the company.
Additionally, the Hong Kong-based global analysis firm says that smartphones with 5G capability are more expensive when compared to their non-5G counterparts.
For Q3 2022, the tech giant recorded a global revenue accounting for 42% from July to September. The same quarter from 2021 only reached 37.1% so that's a drastic increase this time.
Based on the yearly numbers, Apple achieved a 10% boost in sales during the third quarter. Meanwhile, the company hit a 7% average selling year price increase in the same period.
Counterpoint highlights that the revenue improvement is attributed to the booming sales of the iPhone 14 Pro lineup which is much better than the sales of their predecessors.
Apple's top competitors Samsung and Xiaomi hit 18.3% and 8.3% revenue in Q3 2022. The South Korean tech firm experienced a slight decrease from its previous record of 18.5% during the same quarter last year.
On the other hand, the Chinese smartphone maker improved from 7.8% share as it recorded 4% year-over-year sales for low and mid-range handhelds.
Related Article: Apple Q1 2022: $123.9b Revenue with $34.6b Profit for the Quarter Alone; iPhone the Top Seller?
Chinese Brands Suffer Decline Amid COVID-19 Lockdown
Since several cities in China have been continuously declaring lockdowns because of the grueling cases of COVID-19 infections, smartphone factories have to deal with the consequences.
According to Phone Arena's report, China-based smartphone makers Vivo and Oppo felt the impact of the events after experiencing a sharp decline in smartphone revenues this year.
From Q3 2021, Oppo only collected 6% of revenue from smartphone sales which are quite behind the previous record of 8.1% share in the same quarter.
Vivo, another known Chinese electronics company saw a bigger decrease in global revenue in Q3 as it only managed to hit 5% of the total revenue. Last year, it achieved 8.5% in revenue shares in the same quarter.
The reason why smartphone revenues do not appear company-friendly to phone makers is because of the COVID-19 outbreak in the country.
The lockdowns have restricted companies in terms of production and manufacturing. The shipments of mobile devices have slowed down, as a result. Several delays were recorded at the time.
Can We See iPhone SE 4 Next Year?
According to GSM Arena, prominent tech leaker Ming-Chi Kuo forecasts that Apple will have continuous low sales when it comes to midrange models.
Because of this, the analyst believes that we won't see iPhone SE 4 anytime soon. Possibly, it will be released in 2024.
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