Analyst Predicts Significant Decline in Apple iPhone Shipments by 2024

Title: Apple Predicted to Face Decline in iPhone Shipments as Foldable Phones and Huawei Gain Popularity

In a recent analysis by well-known Apple analyst Ming-Chi Kuo, it has been predicted that iPhone shipments are likely to witness a decline this year. Kuo attributes this potential setback to the rising demand for foldable phones and Huawei’s resurgence in the Chinese market.

Kuo’s most recent supply chain survey revealed that Apple has reduced shipments of key components, leading to a significant 15% year-over-year drop in iPhone shipments. This decrease is particularly evident in China, where weekly shipments have declined by 30% to 40% when compared to the previous year. Experts anticipate this downward trend to persist unless Apple takes swift action.

The growing dominance of Huawei as a leading smartphone manufacturer and the increasing preference for foldable phones are being pointed out as crucial factors behind the expected decline in iPhone shipments. On the other hand, Samsung has experienced higher-than-anticipated demand for its latest Galaxy S24 series, mainly due to the incorporation of AI-powered features, resulting in increased shipments for the tech giant.

To compound matters, Apple has decided to lower its shipment forecast for the highly-anticipated iPhone 15 in the first half of 2024. With no major changes expected until 2025, Apple’s shipment momentum and ecosystem growth are likely to diminish, posing a challenge for the company in the near future.

As the quarterly results announcement approaches, analysts are predicting minimal revenue growth for Apple and single-digit growth for the remainder of the year. This news has already taken a toll on investor confidence, with Apple shares experiencing a 1.7% decline in response to the forecasted decline in iPhone shipments.

Despite these challenges, Apple continues to be a tech juggernaut in various sectors, including wearables and services. However, the company will likely need to reassess its strategies and focus on innovation to stay competitive in an ever-evolving market.

With the tech industry landscape rapidly shifting, it will be interesting to see how Apple navigates these obstacles and adapts to the changing consumer preferences, particularly in an era of emerging technologies like foldable phones and fierce competition from Huawei and Samsung.