Apple is currently seeing a sharp drop in iPhone sales, demonstrating that even industry giants like Apple are subject to changes in the market. Have you wondered why this sudden shift? It raises millions of questions about what is causing the fall.
Growing Rivalry from Other Brands
One of the main reasons for the decline, which can be analyzed, is the growing competition from other smartphone brands. Despite Apple’s decades-long dominance in the market, rival smartphone companies are now constantly updating their products with unique features.
Smartphone manufacturers such as Samsung, Xiaomi, Huawei, and Oppo are also gaining traction among customers due to their competitive prices and customization (partnering with popular bands like BTS or franchises like Harry Potter).
IDC researchers found that the Average Selling Price (ASP) of devices is rising as consumers increasingly choose premium models because they want to keep them for a long time. Apple has consistently maintained the best ASP in the industry, yet it has failed to integrate new features, unlike its rivals.
Meanwhile, the ban on foreign devices in workplaces in China has weighed heavily on iPhone sales.
Evolving Consumer Preferences
Innovation is one of the major driving forces in the smartphone industry, with consumers’ desire to seek new features in their devices. However, the iPhone’s rivals have introduced foldable and flexible smartphones, advanced camera technologies, wireless charging, and AI features, enticing consumers with new experiences while they stand solid without any major changes.
As Apple goes through its worst iPhone slump in recent years, the smartphone market is undergoing a period of significant change and competition.
RR Author
Real Research News is the media platform that presents insights and studies of wide-range of topics. It focuses on insights gathered from its survey app.
