The tech giant has ordered a total production of 90 million iPhones from automakers, despite poor forecasts for the smartphone market. In total, the company expects to assemble approximately 220 million smartphones in 2022, roughly the same level as last year.
Everything indicates that Apple is confident in its abilities, despite the fact that, according to experts, the global smartphone market fell by 9% in June alone and is expected to fall by 3.5% in 2022. While Android device sales continue to suffer.
The high demand for the iPhone stems from the desire of many buyers to acquire quality devices. Huawei’s disappearance from the market contributes a lot to the company’s success. At the same time, according to some reports, Apple intends to “slow down” costs and the hiring of new employees in some of its teams in 2023.
Bloomberg predicts that iPhone sales growth will remain at “single-digit” levels in the short to medium term. Accelerating inflation, developments in Europe and health restrictions related to COVID-19 outbreaks in China have the potential to extend the product update cycle, impacting sales growth in fiscal 2022. However, Apple is actively preparing to introduce four new iPhone models that perform better than the 2021 versions.
Through 2021, Apple has kept its iPhone sales target at 75 million from launch to the end of the year. In 2021, it rose to 90 million, counting on additional demand after the pandemic recession. Contract iPhone assembly companies posted record sales and profits last fiscal year.