Despite a big decline in the European smartphone market, the iPhone continued to grow in both shipments and market share in the second quarter of 2022.
According to a new report from Counterpoint Research, the European smartphone market declined by 11% year-over-year in the second quarter of 2022. The research indicates that the continent is experiencing "a deteriorating economic climate and ongoing geopolitical uncertainty."
Despite this, Apple grew in both shipments and market share in Europe in Q2 2022. The report says that this was "largely due" to the launch of the new iPhone SE, with has been upgraded with a new processor and 5G connectivity.
Quarter-over-quarter isn't looking so good
While Apple's performance was positive year-over-year, its performance shrank considerably quarter-over-quarter.
Jan Stryjak, Counterpoint Research’s Associate Director, said, that the overall results were a "mixed bag" in the second quarter of 2022. The director said that "much has changed in Europe compared to last year and even last quarter, both from an industry and macro perspective.” Her outlook didn't look good for the rest of the year, either.
"The situation in Europe unfortunately remains bleak. Many countries in Europe are slipping closer to recession, and domestic political tensions in numerous countries beyond Russia and Ukraine are rising, for example in France, Germany and the UK. We remain hopeful, though, that the bottom has been reached and the trajectory should turn upwards soon, but the recovery will likely be long and slow.”
Despite Stryjak's negative outlook, Apple is set to announce the iPhone 14 lineup at an event that is expected to take place in September. The company is also rumored to announce the Apple Watch Series 8 and AirPods Pro 2 at the event.
In addition, the company is expected to unveil new iPads and Macs later in the fall, a lineup that will be sure to boost sales through the rest of the year.
The iPhone SE (2022) features an upgraded processor and 5G connectivity for the first time.
