The Smartphone Market Has Been Shrinking, With the Future Not Looking Optimistic, Which Could Have Resulted in Low Demand for the iPhone 14 Plus
Apple has reportedly informed one manufacturer based in China to halt production of iPhone 14 Plus components, according to The Information. It is unclear if Apple plans on resuming production, but considering that the larger iPhone had attributes that would have appeased the masses, it appears that the issue of low demand lies elsewhere. Reuters reports that the smartphone market shrunk by 9 percent in the third quarter compared to the same period last year. During a time when inflation has rocked several regions, residents’ purchasing power has been severely affected. As a result, it has become financially difficult for millions to upgrade to a premium iPhone, especially when a large number of countries do not offer customers easy monthly payments to help relieve some stress to aid them in the current and future months. Data research firm Canalys expects smartphone demand to remain weak over the next six to nine months, which may have caused the iPhone 14 Plus sales to suffer. Even Apple’s base iPhone 14 is not doing well, with the company seemingly cutting production for the least expensive version. However, on the plus side, the iPhone 14 Pro and iPhone 14 Pro Max are faring significantly better, likely due to the number of upgrades they feature and the design change where Apple implemented the Dynamic Island while ditching the notch. Additionally, where the technology giant was said to introduce a price hike to the ‘Pro’ models due to the increase in component costs and global inflationary factors, Apple defied all reports and placed a $999 starting price for the more premium versions. The iPhone 14 Plus was praised for its bigger display, improved battery, upgraded cameras, and more, which would have made it the obvious choice for customers who did not want to splurge money on the ‘Pro’ models. Unfortunately, it appears that Apple’s shift in strategy has not worked out well this year so far. News Source: The Information
