"Apple’s shipments surged 139% YoY in Q3 2022 as more consumers in Vietnam bought premium smartphones." -- Counterpoint Research
Three headlines from a Counterpoint note that landed on my desktop Friday:
Apple’s shipments surged 139% YoY in Q3 2022 as more consumers in Vietnam bought premium smartphones. The iPhone 11, iPhone 13 and iPhone 13 Pro Max were among the most preferred models during the quarter. Apple distributors are opening more official stores in Vietnam, which is helping the brand reach more customers.
Apple led the premium market with an impressive 53% YoY increase in shipments. Apple’s earlier models went off the shelves swiftly in July and August, while there was an increase in shipments in September following the launch of the iPhone 14 series
We are optimistic about Q4 2022 as the holiday season arrives. The popularity of premium smartphones will be an advantage, and the recently launched iPhone 14 series will boost Apple’s shipments.
My take: Who's old enough to remember the domino theory? I'm listening to the final chapters of Barbara Tuchman's "The March of Folly: From Troy to Vietnam" and it's breaking my heart.
Merci beaucoup Counterpoint Research for the above lagniappe this morning as Christmas approaches in the bayou country. Apple’s presence in developing nations is undeveloped, but now is beginning to evolve. Little different than what we witnessed with the introduction of capitalism in China, we now will see in Vietnam and other developing nations where global commerce will facilitate growth and prosperity for citizens of these countries to purchase new and refurbish Apple products. These countries remain untapped fully. The smartphone market is not saturated. We shall see economic prosperity affording citizens who never owned a smartphone obtain one. Once they do, then they are in the Apple ecosystem going forward.
Even more OT: I recommend Timothy Snyder’s lecture series on Ukraine (see youtube for all 20). Other scholars are chiming in.
Very good question. IMO, it all depends on whether the people know, learn about and understand what types of governmental and economic models there are, whether those models can be introduced or tried, and most importantly, whether the people are given any say (or votes) to change what they have into what they may want.
The biggest impediment to change or progression from one to another is, as always, the desire of those (men) in current power to wish to remain in power (because it benefits them or their power base, not necessarily the people). They will cling to power, fight tooth and nail to find ways to remain in power, even suspend or change Constitutions (Thailand) and laws so that even elections can be biased (gerrymandering, voter suppression, etc.), all to retain the status quo, IMO.
And/or (no pun intended but it does ironically apply), in the words of Grand Moff Tarkin:
“Fear will keep the local systems in line. Fear of this battle station (or government, secret police, military, etc.)”
Honestly as an American I am less worried about China, and more worried about our own democracy. I hope reasonable laws are passed by Congress to hold individuals and media companies accountable for reporting lies.
While Androids are majority due in no small measure to lower costs, once people reach a level of prosperity and can choose how they spend discretionary income, Apple products become a very viable and desirable option / choice.
If and when more countries, through their people’s hard work, become more prosperous, so too will Apple’s markets and popularity. I see continued growth for Apple in this view.
Funny how not long ago US analysts were saying the smartphone (and PC) markets were saturated and mature and Apple had no more growth options. Then Apple introduced iPad, Watch, Mac with Apple Silicon, AirTags, Apple Pay, and expanded Services which embrace international content and flavors.
We already know the US/NA market is only 40-45% of total revenue, the rest is international. Growth internationally will further increase.
But certainly where iPhones cost more than alternatives with similar core functionality, that represents a choice to spend more money made by a HUGE number of people for a single company’s product line.