Apple Shows Blockbuster Sales in Q2 as Chip Shortage Hits Vendors

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Apple saw blockbuster revenue growth for iPhones in the second quarter this year, despite a unit total that increased only 1 percent (45.7 million units), a Canalys report showed on Thursday, as major brands struggled to secure key components to produce devices to meet the demand globally.

Apple said during its earnings call on Tuesday that the iPhone revenue set a June quarter record of $39.6 billion, growing 50 percent year-over-year and exceeding its own expectations.

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“The big difference here is the mix of iPhones selling. Apple launched the low-cost iPhone SE in April 2020, which accounted for 28 percent of its mix at that time. This year, with no new iPhone SE, its average selling price increased drastically,” said Le Xuan Chiew, Canalys Research Analyst.

In addition, its iPhone 12 mini is underperforming against channel expectations despite wholesale discounting, and the iPhone 12 Pro models have become a particularly high mix, at 37 percent.

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“Apple, like all brands, will run into component headwinds in H2 2021. But its scale has significant weight with supply chain partners, and it will not suffer to the same extent as smaller rivals,” Chiew said in a statement.

In Q2 2021, global smartphone shipments reached 316 million units, representing a 9 percent drop from the previous quarter.

Samsung was the leading vendor with 58 million units at 8 percent year-on-year growth. Xiaomi took second place for the first time ever, with 52.8 million units at 83 percent growth.

OPPO and Vivo placed fourth and fifth with 32.6 million and 31.2 million units, respectively.

Going forward, though, as supply constraints ease in 2022, the market is set to explode into life.

“A war has already started, with brands pouring substantial sums of money into showpiece marketing in international markets. Vivo and OPPO have been at the forefront of this drive, purchasing lucrative sponsorships with the likes of the Indian Premier League, the World Cup, Wimbledon, and FC Barcelona,” said Canalys Research Manager, Ben Stanton.

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