Apple gains smartphone share on ‘growing demand’ for iPhone 13: Canalys (NASDAQ:AAPL)

Apple gains smartphone share on ‘growing demand’ for iPhone 13: Canalys (NASDAQ:AAPL)

Over shoulder view asian chinese man using fitness tracker mobile app connecting to fitness tracker at public park after exercise in the morning

Edwin Tan /E+ by way of Getty Visuals

Apple (NASDAQ:AAPL) acquired share in the smartphone current market in the initial-quarter, mostly because of to the “increasing demand from customers” for its Apple iphone 13, study agency Canalys explained on Tuesday.

The Cupertino, California-dependent Apple (AAPL) accounted for 18% of the smartphone sector, up from 15% in the to start with-quarter of 2021, even as general smartphone shipments fell 11%, because of to “unfavorable economic situations and sluggish seasonal desire.”

“Whilst the Apple iphone 13 collection carries on to capture customer desire, the new Iphone SE launched in March is becoming an crucial mid-variety volume driver for Apple,” Canalys Analyst Sanyam Chaurasia stated in a assertion.

“At a comparable cost issue to its predecessor, it gives an upgraded chipset and enhanced battery functionality and adds the 5G connectivity that operator channels are demanding.”

Apple (AAPL) shares rose 1.5% to $167.62 in late buying and selling on Tuesday.

Coming in initial in the smartphone market place was Samsung (OTC:SSNLF), which accounted for 24% of the sector, up from 22% in the yr-back interval. Xiaomi experienced 13% of the industry, coming in 3rd area, although OPPO and vivo rounded out the prime five, with 10% and 8% of the sector, respectively.

On Tuesday, Rosenblatt Securities analyst Barton Crockett begun coverage on Apple (AAPL) with a neutral score and a $184 cost goal, noting it is going through numerous road blocks coming from China.