Apple’s Sales Expected to Rise in Third Quarter Amid Revived iPhone Demand in China

With the resurgence of iPhone demand in China, Apple’s sales in the third quarter, spanning from July to September, are anticipated to experience the largest increase in two years.

According to a synthesis of analysts’ estimates by LSEG, Apple’s iPhone sales are projected to rise by 3.8% in the third quarter, reversing the decline of the previous two quarters. Overall sales for the quarter are estimated to have increased by 5.7%.

Sales in Greater China saw a notable increase of 6.6%. Certain iPhone models, including the iPhone 16 Plus, were sold at a 10% discount on the online retail platform Pinduoduo prior to their official release. As Pinduoduo is Apple’s retail partner, the company has no control over the selling price.

The lower sales prices contributed to Apple maintaining its second-place market share in China, based on IDC data.

iPad sales, which experienced a 23.7% increase in the previous quarter, rose by 10.1% in the third quarter, reaching $7.09 billion in sales, thanks to the release of a version with improved performance.

Sales in service sectors, such as the App Store, also saw a significant increase of 13.3%.

Apple is set to announce its quarterly earnings on the 31st. Investors are closely watching the performance of the iPhone 16 series, which was released just before the quarterly deadline.