Trendforce has released its smartphone production figures for the first quarter. Apple Inc.’s (NASDAQ: AAPL | AAPL Price Prediction) numbers dropped substantially, both sequentially and year over year. Apple was not alone. Smartphone production overall dropped to a 10-year quarterly low. (These are the 25 biggest product flops of the past 10 years.)
[in-text-ad]
Production for the industry in the first quarter was 250 million units, which was down 19.5%. Apple can brag that it had the smallest year-over-year decline among major manufacturers. It dropped to 53.3 million, down just 11.9%. However, quarter over quarter, it was a collapse of 27.9%.
[nativounit]
Apple’s chief global rival, Samsung, had an increase of 5.5% compared to the previous quarter. It hit 61.5 million units “thanks to the launch of its Galaxy S23 series.” Its year-over-year drop was 16.7%.
Samsung’s market share for the quarter was 26.4%, while Apple’s was 21.3%.
[wallst_email_signup]
The news is very bad for Apple. Its shares are near an all-time high. In the most recently reported quarter, Apple had revenue was $94.4 billion. iPhone revenue was the largest of all Apple’s devices, with revenue of $51.1 billion.
[recirclink id=1252400]
Apple usually releases new iPhones in September. The Trendforce figures indicate it could have trouble between now and then. It is unclear whether this is due to the economy or the fact that iPhone 14 sales have started to slow considerably.
Top Gaining Stocks
Top Losing Stocks