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A slowing market is expected to sustain Apple's iPhone sales in 2022

Mobiles

A slowing market is expected to sustain Apple's iPhone sales in 2022


By TechThop Team

Posted on: 12 Aug, 2022

Apple is asking suppliers to build as many iPhones as in 2021 this year to weather the global downturn in electronics. Assemblers are told to build 90 million of its newest devices, in line with last year, despite deteriorating smartphone market projections.

 As per one source, Cupertino continues to expect to assemble 220 million iPhones by 2022, about level with last year. Apple's projections suggest it will weather a slump in smartphone spending. According to IDC, the global handset market is expected to shrink by 3.5 percent in 2022.

The people said the stronger demand for Apple's new lineup stems from consumer willingness to spend on premium gadgets as Android devices struggle. High-end smartphone competition has also been eroded by Huawei's virtual demise.

The company responsible for most of the iPhones in the world said this week that sales of its smart consumer electronics products should remain steady in 2022. Neither Apple nor its representative responded to a request for comment.

The world's most valuable company promises disciplined spending as economic and geopolitical uncertainties loom. Earlier this month, Bloomberg reported that Apple would slow spending and hiring in 2023.

As a result of a cooler-than-expected US inflation reading this week, hopes have been raised that interest rates will not be increased as aggressively as anticipated. The economic outlook remains grim, however, according to market observers.

As Apple continues to refresh its products and sell additional services to its installed base of over 1.8 billion active devices, it will likely grow its sales in the mid-single digits. Inflation, the war in Europe, and Covid-19 restrictions in China will slow fiscal 2022 sales growth.

The consensus was $394 billion. Apple may have difficulties fulfilling customer demands if parts shortages or geopolitical issues disrupt its supply chain due to its overexposure to Chinese manufacturing. In addition to its marquee device, Apple's services are a key source of revenue.

Apple will release four new iPhone models that Bloomberg News reports will be more advanced than 2021's models. The iPhone 14 Pro will come with a much-improved front-facing camera, a 48-megapixel rear camera system, thinner bezels, a faster A16 chip, and a redesigned notch with a pill-shaped cutout for Face ID.

Through the end of the year, Apple had consistently sold 75 million devices until 2021. As a result of the rollout of Covid vaccines, Apple increased its target for 2021 to 90 million. Pegatron, one of the iPhone assemblers, posted record sales and profit.

The iPhone should once again drive Apple's growth in the coming year. Apple's iPhone and iPad did better than expected during the June quarter, but other products - such as Macs and wearables - disappointed. Services, Apple's key growth area, narrowly missed expectations.

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