When Apple presented its quarterly report on Thursday evening, we learned, among other things, that revenue from iPhone sales decreased by 8 percent during the fourth quarter of 2022 compared to the corresponding period the year before.
According to Apple CEO Tim Cook, the decrease is primarily due to the covid shutdowns in China, which meant that the company could not produce enough units to meet demand.
Now that China has eased its restrictions, Tim Cook expects iPhone sales to pick up again.
A possible problem is the current recession and the fact that iPhones have become significantly more expensive in many countries as a result of inflation and currency adjustments.
However, Tim Cook is convinced that there are enough users who prioritize new mobile phones considering how important they have become in today’s society. He also points out that iPhone sales are at record levels in countries such as Canada, Italy, Spain, India and Vietnam.
If Tim Cook is right in his forecasts, we will see in future quarterly reports.