Apple observes a 10% increase in iPhone revenue as Chinese smartphone manufacturers experience a sharp decline
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Apple has reported a year-over-year increase in revenue from iPhone sales worldwide. As more 5G-compatible smartphones hit the smartphone market, the Cupertino tech titan managed to achieve a 10% gain. From July through September of 2022, the IT titan’s global revenue accounted for 42% of total sales. Oppo, a well-known Chinese electronics business, suffered a larger drop in global revenue in Q3, accounting for only 5% of overall revenue. The COVID-19 epidemic in the country is the reason why smartphone revenues do not look to be company-friendly to phone makers. Ming-Chi Kuo predicts that Apple’s midrange models would continue to sell poorly.
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