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Apple’s Q3 2021 Results Affected by Supply Constraints

by Boris Metodiev | Nov 01, 2021

Apple’s smartphones volumes grew +7% YoY in Q3 2021. The company also registered solid growth in smartphone wholesale revenue and ASP. Despite the positive looking numbers, results were slightly disappointing due to the missed opportunity for bigger sales, caused by component shortages and supply constraints.

The good news for the company is that, according to our Smartphone Brand Consideration and Purchase Intent survey,  Apple has the highest customer “stickiness” from all smartphone brands. That means it is unlikely that too many Apple users will move to another competing brand, despite the lower than expected sales this quarter. They will just delay their next iPhone purchase, when the constraints are over, and the desired device is available.

The supply constraints affected primarily the new iPhone 13 models. Old models were boosted by aggressive price cuts and promotions. That strategy was particularly successful in India where Apple more than doubled volumes from last year. iPhone 12 remained the top-selling Apple smartphone globally in Q3 2021.

WSS clients can find iPhone shipment forecast and the answers of all questions in the full report here.

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