iPhone 14 discounts in China might not be a bad sign
Apple’s iPhone 14 lineup has recently started selling at discounts of over $100 in China, and while some are taking it as a sign of flagging demand, that doesn’t seem likely.
Some analysts see the sales as a sign of weak demand — and Bloomberg appears to as well. It’s not clear if that’s the case, though, as the discounts started during the Lunar New Year celebrations.
And a report on Friday showed that Apple had a strong fourth quarter in 2022. It shipped 70 million iPhones in that timeframe with 18% of shipment share, 48% of the marketplace’s revenue, and 85% of the profit generated by the segment for the year.
Meanwhile, in the first quarter of 2023, Apple reported $117.15 billion in revenue, a decline from $123.9 billion in quarter one of 2022. The iPhone brought in $65.78 billion in revenue for the quarter, down from $71.6 billion in the corresponding quarter last year.