The latest supply chain survey conducted by analyst Ming-Chi Kuo suggests that Apple is not so optimistic about iPhone shipments in 2024. So much so that Apple has lowered the upstream price of semiconductor components with suppliers by up to 15% . According to Kuo, Apple will see a 10-15% drop in shipments for its iPhone 15 and upcoming iPhone 16 series compared to shipment numbers for 2023.
Apple is also facing declining sales in China, where weekly shipments have fallen 30-40% year over year. Kuo also says that foldable phones and generative AI features are key selling points for high-end users in China, and Apple currently offers neither, which is a major drawback. Looking ahead, Kuo believes Apple won’t make any major design changes or generative AI features on its iPhones until 2025, which will likely further dampen shipment momentum.
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