19. In July, Apple patented a report titled "In Q2, Apple's latest iPhones dominated the top 3 places in the United States while gaining iOS market share in urban China." Our second report on this topic was published on July 22, entitled "Apple's iPhone XR was the best-selling smartphone in the United States in Q2 with a 48% market share." When Apple gained market share in urban China, it was a healthy sign that Apple is likely to settle in China this quarter, and Tim Cook confirmed it yesterday by saying, "Geographically, we are pleased with our performance across the board including a return to mainland China growth . "
Statista reported today with a chart and commentary on Apple's rebound in China. "After moving from a growth driver to a weak spot and back again before, Apple's China business was a pleasant surprise this time when Apple reported third-quarter revenue on Tuesday. Despite headwinds in the form of continued trade tensions, weakening demand from consumers and slowest economic growth of nearly 30 years, Apple managed to bounce back in the region, back to mainland China growth and almost stop the decline in Greater China. "
There is no doubt that Apple's iPhone XR helped Apple's iPhone image for fiscal Q3, even though the iPhone was a bit down year over year. A new CNBC report says there is a clear trend in the smartphone industry.
The report emphasized that both "Apple's and Samsung's latest revenue reports show the same: most people will not spend $ 1000 on a new phone, no matter how good it is.
Samsung reported revenue in the second quarter on Wednesday, saying in particular it saw demand for the cheaper phones, including the A-series devices, but the Galaxy S10 did not fare well. "
sale of the new Galaxy A series, including the Galaxy A50 and A70. However, sales of flagship models QoQ fell on weak sales for the Galaxy S10 and stagnant demand for premium products.
There are some reasons why people do not buy the premium phones that they used to do.
First, people hold on to the phones longer. Bernstein analyst Toni Sacconaghi said in February that iPhone owners are upgrading about once every four years. Apple CEO Tim Cook said in January that "customers are sticking to their older iPhones a little longer than before." Cook has also said that macroeconomic factors come into play, especially in places like China.
Second, there is no indication that this trend will stop – at least not until someone completes folding phones or adds a "must-have" feature. For more on this, read the full CNBC report.
Below is a CNBC "Squawk Alley" report on Apple's fiscal Q3 performance and more.
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