Kuo: iPhone shipments to decline by up to 15% in 2024

The latest supply chain survey from analyst Ming-Chi Kuo suggests that Apple is not so optimistic about its iPhone shipments in 2024. So much so that Apple has lowered its upstream of semiconductor components with suppliers by up to 15%. According to Kuo, Apple will see a 10-15% decline in shipments for its iPhone 15 and upcoming iPhone 16 series compared to shipments numbers for 2023.

Apple is also facing slumping sales in China, where weekly shipments have been declining by 30-40% on a yearly basis. Kuo also states that foldable phones and generative AI features are key selling points for high-end users in China and Apple currently does not offer either which is a major drawback. Looking ahead Kuo believes that Apple will not bring any major design changes or generative AI features on its iPhones until 2025 which will likely slump its shipment momentum even further.

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