In Q1 2023 Apple Grew its iPhone Market Share in the U.S.
Smartphone shipments in the US declined 17% YoY in Q1 2023 as OEMs corrected high channel inventory and as consumer demand declined due to macroeconomic pressures. In the case of Apple, shipments may have dropped but managed to increase its market from 49% to 53%. Apple's CEO stated during the company's Financial Conference Call on April 1 that the iPhone set a new March quarter record with revenue of $51.3 billion.
Associate Research Director Hanish Bhatia noted, “Some niche categories may continue to perform well despite overall weakness. For instance, there is a lot of excitement around foldables this year as more OEMs jump onto the bandwagon, which may stir demand for premium devices. Similarly, demand from government-supported Lifeline and ACP programs will largely remain unaffected. But at a broader level, Android-to-iOS migration driven by young and first-time smartphone users continues to remain a key pain point among Android OEMs.” For more on this, read the full Counterpoint report.