December 2, 2022

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For consumers whose economy hasn’t been affected much by the pandemic, travel restrictions have led them to spend that budget on more expensive devices, including smartphones. During the pandemic, users are also realizing the importance of smartphones and are starting to see more value in upgrading their devices.

Another interesting factor is that despite inflationary pressures, this trend in top markets is common across regions. This is because wealthy consumers are not affected by the current economic downturn. As a result, the mid-to-low price segment has been hit hard by recent macro headwinds, while the high-end segment looks solid, further pushing up ASPs.

Additionally, an increasing number of financing programs and a growing ecosystem of trade-ins and EMIs are helping consumers upgrade their devices without paying the total price up front.

In the mid-to-high-end segment ($600-800), Apple continues to lead with a 57% share as the 4G iOS installed base continues to upgrade. U.S. iPhone sales and promotions remained strong throughout the quarter. There is no evidence of any macroeconomic impact on demand. Apple also continued to succeed in attracting new users, as switcher growth set a new record in the quarter, driven by strong growth in emerging economies.

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