Americans are deciding not to upgrade their phones yet. In Q1 2023, there were very high iPhone 14 Pro and Pro Max shipments that the iPhone 15 series could not replicate.
The low-end market is consolidating, and there are fewer new product launches as LTE models are phased out for pricier 5G phones. The costs of 5G connectivity pose challenges for OEMs to compete.
Counterpoint Research expects signs of recovery in Q3 with new launches driving demand and seasonal growth due to holidays. The iPhone 16 series with generative AI features is anticipated to contribute.
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