Apple: iPhone Shipment Beat Expectations in Q2 2024
Apple iPhone shipments rose 4% YoY to 44.7 million units in Q2 2024, with strong growth in most regions despite declines in China and Central Eastern Europe.
Apple iPhone shipments grew 4% YoY to reach 44.7 million units and 15% market share capturing second spot in global smartphone market in Q2 2024. Except China (decline 8% annually) and Central Eastern Europe (fell 9% YoY) where Apple posted the annual decline by iPhone shipment volume, all other regions delivered annual growth rate. India, Southeast Asia, Central Latin America and Middle East Africa registered double digit growth rate in Q2 2024, larging driven by the aggressive price discounts for iPhone 15 and old legacy iPhone models. We believe the aggressive price discounts on iPhone 15 series and legacy iPhone models in emerging markets and elsewhere led to the iPhone wholesale ASP decline of 4% YoY and 6% QoQ.
