iPhone 15 loses market share despite #039; series overall success
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Historically, “Pro” iPhone models give way to cheaper models in the spring — but for now, 2024 is a completely different year.
The second full quarter since the launch of Apple's iPhone 15 series shows a significant shift in consumer purchasing habits, particularly affecting the base iPhone 15 model. Shifting consumer preferences are a key factor in the decline in popularity of the base model.
Although the current iPhone lineup continues to dominate sales, the base model's market share has declined markedly compared to its predecessors.
A study by Consumer Intelligence Research Partners (CIRP) shows that the base iPhone 15 model accounted for only 14% of total iPhone sales this quarter. This figure is significantly less than the base iPhone 14 model, which was 19% for the same quarter in 2023.
Despite the decline of the base model, the iPhone 15 series continues to be a success, accounting for a significant 68% of total iPhone sales. In particular, the higher-end Pro and Pro Max models performed solidly, maintaining a steady 22% to 23% share of total sales.
Distribution of iPhone models as of March 2024
Several factors contribute to the decline in popularity of the base model. Incremental improvements in iPhone technology have become less revolutionary over the years, making the latest base models less attractive.
Despite new features such as Dynamic Island, a 48 MP main camera and USB-C integration in the iPhone 15 series, these updates — especially for the base model — are not seen as a great leap forward.
Additionally, USB-C integration into the base iPhone 15 model is limited to USB 2.0 speeds, which does not improve data transfer speeds compared to older models that used the Lightning connector.
The overall market reaction shows that although the iPhone 15 series has helped Apple maintain strong sales, consumers may opt for either older iPhone models or invest in Pro models with higher specifications.
While high-end models still attract those looking for the latest and greatest, weak sales of the base iPhone 15 could be a signal for Apple to rethink its approach to the entry-level market segment.
“We also suspect there is some economic pressure to cut costs whenever possible, and a generational trend towards sustainability and away from constantly wanting the latest thing,” CIRP muses. “Collectively, these factors are putting pressure on the newest base model and increasing demand for one- and two-year-old alternatives.”
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