With its iPhone business, Apple swallowed 85% of global smartphone profits in 2022

CTOnews.com According to the latest report released by Counterpoint Research, global smartphone shipments in the fourth quarter of 2022 were 1.2 billion units, down 18% year-on-year, the worst fourth quarter since 2013.

While the global smartphone business took a beating, Apple was the biggest winner in the quarter. Apple shipped 70 million iPhones worldwide in the fourth quarter, up from 49.2 million in the third quarter of last year but down from 81.5 million in the fourth quarter of 2021, the report said.

CTOnews.com learned from the report that Apple gobbled up operating profit share of the global smartphone market, reaching a staggering 85% in 2022. The report pointed out that Apple's iPhone shipments accounted for 18% in 2022, a new record; the company's mobile phone business revenue accounted for 48%, creating a new best result.

Jeff Fieldhack, director of research at the agency, said:

After expertly solving production problems in a year battered by economic and geopolitical turmoil, Apple is better able to meet these challenges than other major smartphone makers.