Apple reportedly plans to ship about 85 million units of the upcoming iPhone 15 — about the same number of iPhones it shipped last year — despite global economic challenges.
The tech giant is aiming to maintain stable shipments even in the face of the projected decline of the overall smartphone market, Bloomberg reported Monday (July 24), citing unnamed sources.
Apple did not immediately reply to PYMNTS’ request for comment.
The company’s plan is reportedly set to increase its revenue overall, as Apple is reportedly considering raising the price for the Pro models, according to the report.
Apple’s production schedule is of close interest throughout the technological industry, as the company’s experiences have a far-reaching effect, the report said. For example, Samsung Electronics, Taiwan Semiconductor Manufacturing and Foxconn Technology Group are all companies that depend on iPhone business to support their growth and margins.
The most recent quarter saw a 8% drop in overall phone sales, according to the report, which cited data from Counterpoint Research. However, Apple’s sales only dropped 2%, as it has seen continued growth in demand for phones costing more than $600.
“Apple is riding this ‘premiumization’ wave, reaching record shares in multiple new markets which are typically not considered its core markets,” Counterpoint Research said, per the report.
PYMNTS research has found that there has been a pullback in discretionary spending as consumers continue to cope with inflation.
Continued economic volatility has most consumers spending conservatively, no matter their financial lifestyle, according to “Digital Economy Payments: The Ascent of Digital Wallets.”
On the consumer side, especially among lower-income consumers, some are keeping their current phone longer than they would have otherwise because money is tight, Stankey said at the time. On the business side, some companies that had equipped their employees with phones for working remotely during the pandemic are now eliminating those wireless products and services.
Apple, however, has been making gains this year due to improvements in its supply chain, investors’ pursuit of quality stocks, and the higher margins provided by sales of high-end iPhones and services.