iPhone 14 discounts in China
Apple’s iPhone 14 lineup has recently started selling at discounts of over $100 in China, leading some analysts to speculate that this could be a sign of weak demand. However, the discounts started during the Lunar New Year celebrations, and Apple had a strong fourth quarter in 2022, with 70 million iPhones shipped and 18% of the marketplace’s revenue.
In the first quarter of 2023, Apple reported $117.15 billion in revenue, a decline from $123.9 billion in quarter one of 2022. The iPhone brought in $65.78 billion in revenue for the quarter, down from $71.6 billion in the corresponding quarter last year.
Despite the discounts and lower revenue, Apple still accounted for 48% of the marketplace’s revenue, and 85% of the profit generated by the segment for the year.
