Apple’s smartphone shipments in China jumped sharply in the next quarter, even while the united states faced Covid-related lockdowns in major cities, in accordance with a fresh report.
In the next quarter, Apple shipped 9.9 million iPhones in China up 25% year-on-year, general market trends firm Canalys said in a written report published Friday.
UBS analysts also said that Apple likely saw almost 25% year-on-year growth in iPhone shipments in China in the next quarter of 2022, in an email published earlier this month.
In China, the Cupertino giant organized relatively well in the April to June period despite a 10% slump in the the country’s overall smartphone market because of a resurgence in Covid, which sent major cities like Shanghai into strict lockdowns.
“Apple has been also enjoying resilient demand in the high-end segment, regardless of the severe lockdowns in its key cities,” Toby Zhu, analyst at Canalys, said in a news release. “The vendor’s active marketing through the promotional period in addition has been an integral contributing factor.”
Read more about tech and crypto from CNBC Pro
In early June, Shanghai and Beijing begun to relax their lockdown measures & most of Apple’s growth in China came through the month. UBS forecasts that June iPhone shipments surged 227% year-on-year.
Apple CEO Tim Cook said the reopening of cities and also a major weeks-long shopping shopping festival called “618” which culminates on June 18 helped the June recovery.
“We did visit a lower demand in line with the Covid lockdowns in the cities that the Covid lockdowns affected. And we did visit a rebound in those same cities toward the finish of the quarter in the June timeframe,” Cook said on Apple’s earnings call.
“And specifically, in the run-up to June 18, which you may already know, is really a major shopping visit to China,” he added.
“We believe that the net of this was still a poor, however, many of it did rebound by June timeframe.”
Apple on Thursday reported Greater China revenue, which include Taiwan and Hong Kong, declined 1% year-on-year to $14.6 billion.
The business also said its services revenue, which include sales from its App Store and Apple Music, hit a June quarter record.