According to reports, although the global smartphone market may have been in trouble, Apple's iPhone 13 is still selling well. And, the upcoming iPhone 14 could do even better.
Apple has started trial production of the iPhone 14 and plans to mass-produce it in August, people familiar with the matter said. Moreover, Apple has told suppliers that the initial sales of the iPhone 14 will be higher than the iPhone 13 a year ago.
Apple's expectations are in line with Wall Street analysts' expectations. Today, a growing number of analysts believe that if major economies fall into recession, Apple's iPhone sales could outperform the smartphone industry as a whole.
Apple focuses on the high-end smartphone market, and analysts believe inflation in core commodities such as food and fuel will have less of an impact on Apple's relatively affluent user base.
Despite signs of cooling in overall smartphone demand, iPhone sales remained strong in July, two people familiar with the iPhone supply chain said.
One of the factories shipped a third of the iPhone 13 in July than last July, one of the people said. That's a rarity, as iPhone sales typically slow in July and August as consumers wait for new models to be released in September.
Another person familiar with the matter said: "In terms of shipments, the iPhone 13 has performed quite well."
Investment bank Cowen analyst Krish Sankar believes that the iPhone 13 continues to enjoy good sales momentum later in the life cycle, partly due to "a sharp rebound in demand from Chinese consumers."
In line with previous years' time frames, Apple has begun trial production of the iPhone 14, with the goal of mass production in August so that it can be shipped in the fall (September), the people said. For the iPhone 14, Apple gave suppliers an initial sales forecast that was slightly higher than the iPhone 13 a year ago .
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