As Apple gears up to launch new iPhones, here is how the tech giant performed this year

Apple will release its latest generation of iPhones at One Apple Park, its headquarters in Cupertino. We expect to see two versions each of the base iPhone — 14 and 14 Plus; and Pro iPhone — 14 Pro and 14 Pro Max. Alongside, the new lineup of Apple Watch and other hardware are likely to be released.

Apple has enjoyed a robust financial year and continuous growth in worldwide smartphone shipments year-on-year, till the end of June 2022, according to research by Canalys.

"Apple continued its strong growth in the first half of 2022, driven by robust demand for the iPhone 13 — which was the best-selling smartphone worldwide in (the first half of 2022) — and the newly launched iPhone SE (3rd Gen)," Le Xuan Chiew, research analyst at Canalys, said in a press release.

Apple, which shipped 98 million iPhones in the first half of 2021 for a 15 percent market share, increased that by 8 percent to 106 million units for an 18 percent market share. This, despite the impact still being felt due to the coronavirus pandemic. Canalys attributed this in part to not increasing the price of the iPhone 13 lineup, at least in the United States.

"Diversifying its production out of China into India helped Apple weather supply chain issues," Le Xuan added.

Of all the models Apple sells currently, the iPhone 13 performed the best, grabbing a 42 percent share of the 106-million-unit pie. The Pro series phones were tied at 15 percent each while the Mini, which is being axed from the 2022 lineup, performed the worst at 5 percent. Older models together accounted for 11 percent of Apple's worldwide shipments.

The situation right now, in September 2022, is markedly different from what it was last year, when the world was just about getting back on its feet after a devastating second wave of the pandemic. That said, there are rumours that Apple will increase the prices of its 2022 iPhones by as much as 15 percent — a factor that will impact the Cupertino giant's sales.

"Pricing will be a key factor ... rising material and logistics costs are predicted to result in a price increase for the iPhone 14. However, Apple has to be mindful of growing inflationary pressures on its consumers. Apple’s collaboration with its channel partners will be critical to improve affordability for its consumers,"  Le Xuan added.

Despite the fact that other brands have caught up with it in terms of prices, feature set or even design, Apple continues to be an aspirational brand, enjoying a high market share, compared to its combined rivals put together, and has done so consistently for the past three years.

"Demand for premium smartphones has increased over the previous years with Apple continuously increasing its dominance in the segment. Despite economic headwinds and overall shrinking demand for smartphones, demand for premium smartphones is expected to remain strong." Le Xuan added.