Apple’s total smartphone shipments grew +8% YoY. The company performed remarkably well, compared to the overall industry, with the total global smartphone market registering its largest annual decline ever at -17% YoY. Apple’s global marketshare jumped to 15%. That is Apple’s largest Q2 marketshare for ten years.

The good quarterly performance was driven by great sales of the new iPhone SE (2020) and a healthy demand for older legacy models, spurred by aggressive price-cutting, which paid dividends in emerging markets across the world.

The new iPhone SE (2020) has been a hit. Despite its legacy design, small screen and modest overall specs, with retail prices starting from US$399, the device presents a great opportunity for midrange consumers to have a wholesome Apple experience.

Suggestions that the cheaper iPhone SE (2020) might cannibalize the more expensive iPhone models were unfounded, since the Q2 2020 results suggest that the iPhone SE (2020) instead managed to steal some Android marketshare, converting consumers that were not able to afford Apple’s pricier models. This is a net win for Apple.

WSS clients can find the answers of all questions, and much more, in the full report here.