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iPhone 14 Pro, Pro Max Lead US Sales in Latest Apple Launch Day

Apple announced the newiPhone 14series on September 9, five days before last year’s iPhone 13 announcement. Apple andcarrierstores across the country opened their doors at 8 am on September 16 for the official launch of the iPhone 14 and iPhone 14 Pro and Pro Max. Here are the seven key takeaways from the launch:

Inventory is much improved overlast year’s launch which was affected by component shortages
- At opening, manyApplestores still had plenty ofinventoryfor those looking to purchase iPhones as walk-ins, although the supply is waning now and some Pro Max models are on back order at carriers. This was very different compared to last year where customers often had to have devices shipped to them during the launch period due to shortages.

Sources: Apple.com, carrier websites

iPhone 14 Pro Max and iPhone 14 Pro lead early sales
- 早期采用者和升级继续选择the Pro models instead of the base iPhone 14. This is typical for the early months of a new iPhone launch. Many are upgrading from older devices such as the iPhone X series. Fewer are upgrading from the iPhone 13 Pro series. The new deep purple color is a forerunner for color choice.

iPhone 14 – early upgraders are hesitant
- Apple store and carrier reps will have a hard time convincing iPhone owners to purchase an iPhone 14 as it is almost identical to the $100 cheaper iPhone 13. Some of the improvements are an additional core on the A15 bionic chip, a 1.6% bigger battery, a slightly wider F1.5 aperture 12MP rear camera, along with crash detection and Emergency SOS via satellite (which hasn’t rolled out yet).
- Savvy customers will know these differences and either hold off or go for the iPhone 13 instead. Reps may also advise iPhone 13 users not to upgrade, especially in cases where devices still need to be paid off or no tangible benefit can be found for an upgrade.
Carrier pre-order deals are similar to last year, but Verizon not the forerunner anymore
- Verizon,AT&Tand T-Mobile have similar pre-order deals compared to last year, offering up to $800 off for the base model and up to $1,000 off for the Pro series devices with trade-ins and unlimited plans.Verizon’s iPhone 14 Pro promotion offers another $200 via e-gift card for switchers. This is worse compared to last year when it offered an extra $500 via Prepaid Mastercard.
Apple store trade-in values are less competitive than last year
- The highest trade-in values for Apple phones this year are $720 for aniPhone 13 Pro Maxand $600 for an iPhone 13 Pro. Last year’s offers were better at $790 for an iPhone 12 Pro Max and $640 for an iPhone 12 Pro. Lower trade-in values make Apple’s own promotions weaker year over year.

Source: Apple.com

eSIMwoes a mixed bag
- Having eSIM-only iPhones was a big point of concern for reviewers and media as it makes switching from multiple SIM cards more difficult, especially when travelling in other countries where eSIM isn’t as widespread.
- 人希望美国iPhone和购买send it to someone abroad are also more hesitant to do so with the iPhone 14.
- eSIM activations have been going smoothly at carrier store locations, according to reps. However, there are complaints coming from people trying to transfer their eSIMs over themselves, as this is a new and unfamiliar process for many. In addition, iOS 16 introduced a bug that impacted new device activations, which required a firmware update to iOS 16.0.1 to fix the issue.
Store traffic is managed by Apple’s appointment system
- Apple has followed a system for several years now where people need to book an appointment to purchase a device. The long lines we see now are for those looking to grab an appointment spot to purchase a device. The hype of previous iPhone launches is more subdued in today’s environment.

Conclusion

The iPhone 14 series is off to a strong start, especially for the iPhone 14 Pro and Pro Max. It remains to be seen how the iPhone 14 stacks up compared to the similarly spec’d and more affordable iPhone 13. However, thesuccessof the iPhone will likely continue despite the current state of the economy as Apple products are more shielded from inflationary pressures and consumers continue to see strong promotions to help sell devices.

eSIM Only iPhone 14 is an Inflection Point for eSIM Adoption

An eSIM-only iPhone, finally!

eSIM in Smartphones has been around since 2017, however, the adoption has grown slowly.Googlestarted it all when it launched the Pixel 2 with eSIM Support as part of “Project Fi”. However, it has beenApplethat has led the popularisation of eSIM in the industry. It introduced the eSIM technology with iPhone XS and since then all iPhones launched have been compatible witheSIM. Now Apple has introduced eSIM only SKUs in US with iPhone 14.

Following in Apple’s footsteps, other OEMs such asSamsung,Huawei, and Motorola have launched smartphones with eSIM capability, mostly in the premium segment. So far, 14 OEMs have launched eSIM-capable devices.

So why is an eSIM-only iPhone significant?

Apple quite simply sets the de facto standard in the industry. We’ve seen this happen multiple times over the last few years. Sure, other OEMs may be able to launch something faster than Apple, but the technology sees faster adoption once Apple uses that to sell iPhones. It happened with dualcameras, portrait cameras, the display notch with FaceID.

The same phenomenon will repeat witheSIM. Google may have been the first one to launch an eSIM capable smartphone, and Motorola may have launched the world’s first eSIM-only Phone three years before Apple but with this launch, we’ll see an exponential increase in the launch of eSIM in smartphones.

We believe the launch of eSIM is an inflection point for the industry, to help transition from the physical SIM card to eSIMs. An eSIM-only iPhone will not only embed eSIM to the mind many consumers around the world, but it will also push other OEMs to switch toeSIMin the future.

Why is Apple choosing eSIM?

The eSIM excels across multiple attributes compared to a traditional SIM card, including provisioning, size, flexibility, security, customer experience, and, above all, cost.

从设备设计的角度来看,这等功能nner, smaller, and more power-sensitive device form-factors, often themselves embedded in a larger machine, are also driving eSIM solutions

Self-provisioning is the biggest advantage for service providers, which drives a superior and stickier customer experience. The eSIM re-programmability extends the SIM lifecycle, bringing durability and convenience for customers.

From a consumer perspective, eSIM offers the potential for greater flexibility in how to access services seamlessly and securely. At the same time, it offers time and cost savings associated with some of the current in-store provisioning or activation processes.

There have been rumors that Apple is looking to bring a portless iPhone. Removing physical SIMs would have to be an essential part of that. I believe the introduction of dual eSIMs in iPhone 13 and now the eSIM-only iPhone 14 is the first indication that a portless iPhone is in the works. The next step would ideally be moving to iSIM by adding functionality baked directly into the “Apple Silicon” which will further save board space and give Apple even greater control over the SIM.

Are operators ready?

MNOs已经逐步采用eSIM进行s as many face challenges either in terms of faith in the technology, a fixed mindset or cost constraints. As the eSIM-capable device ecosystem is entering the mainstream bringing rising consumer awareness, many MNOs have integrated eSIM technology into their networks.

A further push toward eSIM has been the semiconductor shortage that has impacted availability of physical SIMs. And while many aspects of the semiconductor shortage have ameliorated, this is not fully the case for SIMs.

More than 200 leading mobile network operators in over 75 countries are already supporting eSIM provisioning and management however some MNOs have gone above and beyond when it comes to eSIM are consideredL.E.A.D.E.Rs in the industry. They support an average of 20 or more devices, including smartphones, smartwatches, laptops, and tablets. Most of the operators who support eSIM devices are already supporting older Apple devices like the iPhone 13. With the launch of eSIM-only iPhone in the US, it is a signal to MNOs around the world to get ready, the eSIM is here to stay!

Global EV Sales up 61% in Q2 2022; BYD Leads Market

Global passenger electric vehicle (EV) sales* reached 2.18 million units in Q2 2022.
BYD Auto overtook Tesla to become the top-selling EV brand globally.
The top 10 EV models accounted for more than 30% of global EV sales in Q2 2022.

New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – August 29, 2022

Global passenger electric vehicle* (EV) sales grew 61% YoY to reach 2.18 million units in Q2 2022, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker. In total EV sales, battery electric vehicles (BEVs) accounted for almost 72% and plug-in hybrid electric vehicles (PHEVs) for the rest. China remained the market leader in EV sales, followed by Europe and the US. China’s EV sales increased by almost 92% YoY in Q2 2022 to reach 1.24 million units from just 0.64 million units in Q2 2021.

Commenting on the market dynamics,Senior Analyst Soumen Mandalsaid, “As the globalsemiconductor shortagehas eased a bit, automakers are able to cater to the increasing demand for EVs. Moreover, EV sales would have been higher if China had not experienced fresh COVID-19 outbreaks during March. Stringent lockdowns in and around major provinces halted the production ramp-up during April, which resulted in China’s passenger vehicle market recording its biggest drop since the COVID-19-hit March 2020. The situation improved only after lockdowns were lifted during the latter half of May. The second half of 2022 is expected to deliver better results, but economic downturns, energy crisis, supply chain bottlenecks and rising geopolitical tensions may hinder the growth of China’s automotive market, especially EVs.”

Market Summary

BYD Auto: For the first time, BYD Auto became the top-selling EV brand, dethroning Tesla. During Q2 2022, BYD Auto shipped more than 354,000 EV units, an increase of 266% YoY. The company officially stopped production and sales of internal combustion engine vehicles in March 2022 and has been focusing on the development of BEVs and PHEVs. More than 60% of BYD’s sales during the quarter came from its top three models – BYD Song, BYD Han and BYD Qin. The company is slowly penetrating the European market. It has already begun operations in Norway and is looking to start business in Germany, Sweden and the Netherlands.

Tesla:Tesla’s global sales during Q2 2022 grew 27% YoY to over 254,000 units, falling short of expectations. Although business in the US increased, its China business was affected by COIVD-19 shutdowns. Tesla sold just 98,000 cars in China during Q2 2022. Cumulative sales in China during April and May fell by 49% YoY. This was the lowest for the automaker since the COVID-19-hit 2020. But its sales during June improved by almost 115% YoY. Despite COVID-19 clouding Tesla’s Q2 sales, it remained the global leader in the BEV segment.

Wuling: The joint venture between SAIC, GM and Wuling has proved to be a success as the Wuling Hongguang Mini EV is the best-selling EV model in China. The model has been the undisputed market leader since its release in the second half of 2020. During Q2 2022, Wuling grew by 16% YoY to hold the third rank in the global EV market.

BMW: BMW’s EV sales during Q2 2022 increased by 18% YoY. The company has a more prominent presence in the PHEV segment. However, its BEV sales experienced a higher QoQ growth rate (18%) in Q2 2022 compared to its PHEV sales (2%). BMW’s aim to have 2 million BEV units on the road by the end of 2025 is motivating it to make significant developments in the EV category. The BMW X3 and i-series models are spearheading the company’s push in the BEV segment, while the 5-Series, 3-Series and X5 models are doing the same in the PHEV segment.

Volkswagen: Volkswagen’s EV sales declined 9% YoY in Q2 2022. Its shipments across Europe and the US declined by 44% YoY and 74% YoY, respectively. Bottlenecks in the supply of semiconductors and other automotive components due toRussia’s invasion of Ukraine, together with rising inflation, pushed EV sales down in these two markets. However, sales in China grew 115% YoY in Q2 2022. Apart from the supply chain crisis, the company’s internal issues and failure to develop new proprietary software for its vehicles are impacting the company’s EV shipment targets.

Source: Counterpoint Research Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018 – Q2 2022

Discussing the reasons for the rise in EV sales,Research Vice President Neil Shahsaid, “Incentives play a crucial role in increasing EV adoption. For example, China’s strong incentive program for both automakers and consumers has helped the country become the global EV leader. China extended its consumer-side subsidies until 2023, even after deciding to end them in 2021. Moreover, China’s dual-credit policy for automakers has been a massive success and the government is planning to phase out consumer-side subsidies as its EV market reaches maturity. In contrast, lower subsidies inEuropeancountries have led to slow growth in EV sales. China’s EV market grew by over 90% YoY in Q2 2022, whereas Europe’s EV market increased by just 16% YoY. Rising EV sales in European nations have led to a discontinuation of many consumer-side subsidies on car purchases with the focus shifting to establishing improved charging infrastructure, including incentives for consumers to install charging points.”

Further commenting on EV subsidies, Shah said, “Recently, theUShas brought a new EV policy which includes attractive incentives for both automakers and consumers. Benefits upto $12,000 are available for automakers and consumers on the purchase of a new EV. As a result, we expect to see an increase in EV sales in the US. Apart from these big markets, smaller markets like India, Japan, Thailand, South Korea and Malaysia have started providing various benefits for EV buyers and automakers either directly as a rebate in prices or tax exemption.”

The top 10 EV models accounted for more than 30% of global EV sales in Q2 2022. Tesla’s Model Y remained the best-selling EV model. Wuling’s Hongguang Mini EV moved up to the second place, pushing Tesla’s Model 3 to third place. The Hongguang Mini EV’s long streak of being the best-selling model in China was broken by the Model Y in June 2022. Six out of the top ten best-selling EV models during the quarter were from Chinese OEMs and are mostly only available in China.

Source: Counterpoint Research Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018 – Q2 2022

Commenting on the market outlook,Research Vice President Peter Richardsonsaid, “The automotive industry isunlikely to fully recoverfrom the semiconductor shortages until 2023. We do not expect global passenger EV sales to exceed 10 million units in 2022 considering the COVID-19 outbreaks, production shutdowns due to the power crisis, component shortages and rising consumer price inflation.”

*Sales here refer to wholesale figures, i.e. deliveries out of factories by respective brands/companies.

*Under electric vehicles (EVs), we are considering only battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Hybrid electric vehicles and fuel cell vehicles (FCVs) are not included in this study.

The comprehensive and in-depth ‘Global Electric Passenger Vehicle Model Sales Tracker, Q1 2018 – Q2 2022’ is now available for purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

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OnePlus Bets Big on 10T to Take Premium Segment Share

美军陆军OnePlus邀请全球媒体和分析师nity to its in-person global launch event for the new OnePlus 10T in New York City this week. This is a big marketing push for OnePlus, which now has over 22 million community members. Recently, it expanded its partnerships with organizations such as the UFC and Boston Marathon to create more brand awareness of OnePlus in the US, a market where it has been struggling to gain recognition beyond its techie fanbase due to Android giants likeSamsungand Motorola having decades worth of more mindshare now.

The new OnePlus 10T comes in Moonstone Black and Jade Green

The launch event was spread over two days of presentations and meetings with the OnePlus leadership team. The first day focused on a high-level global business update, highlighting continued growth in sales in North America and India, as well as showcasing the latest Snapdragon 8+ Gen 1 and the new OxygenOS 13 (first coming to the 10 Pro and then the 10T later this year). The second day was the actual launch event of the OnePlus 10T with some additional announcements such as a new partnership with Worlds 2022, a tournament for the League of Legends e-sports season; OnePlus expanding its presence in Thailand and Malaysia through new model launches; and a new 80W car adapter.

Refocusing the brand’s messaging to a two-device strategy

The last “T” variant of the OnePlus series was the8T. The 9 series skipped the T variant, which is generally a more mid-range flagship smartphone. Ever since OnePlus made a more concerted effort to go for the premium price bands with its devices starting with the OnePlus 6 in 2018, it has had a hard time sending a clear message as it went with a line-up of four premium SKUs. The different options and price points, and even special editions (McLaren edition, Cyberpunk edition), sent a confusing message to consumers, especially new ones who do not have a lot of brand awareness of OnePlus and might find the plethora of offerings too much to take in.

History of OnePlus flagship launches from 2014 to 2022

With the latestOnePlus 10 Proand new OnePlus 10T, this messaging has been streamlined and simplified for the consumer. With the OnePlus 10 Pro, you get a high-end flagship with all the bells and whistles, while with the OnePlus 10T, you “evolve beyond speed” to get a slightly lower-priced model that is optimized forgamingand quick battery charging. This is helpful for consumers who don’t know the OnePlus brand and need quick-hitting facts to get a powerful initial impression of both OnePlus as a brand and as a device. OnePlus does not currently have the luxury of having multiple SKUs like Samsung, which can fall back on its brand awareness to get consumers interested in devices. A lesson that the OEM is implementing with the 10 series.

Competitive pricing but at a cost

However, issues withpricingremain. The OnePlus 10T sits at a very competitive $649 with the latest Snapdragon 8+ Gen 1, 150W (125W in North America), 6.7’ OLED screen with 120 Hz refresh rate, 4,800mAH battery, vapor cooling system, 50MP main/8MP ultrawide/2MP macro camera, up to 16GB of LPDDR5 RAM and up to 256GB of UFS 3.1 storage. Some spec sacrifices had to be made, of course, to achieve the lower price, with the most talked about one being the lack of the alert slider. TheHasselbladsoftware and branding is also missing, as well as the telephoto lens, wireless charging, and the dynamic 120 Hz refresh rate that the OnePlus 10 Pro has.

Summing it all up, the OnePlus 10T’s big differentiators include:

Snapdragon 8+ Gen 1 chip:Boasts an improved Qualcomm Adreno GPU with up to 10% faster GPU clock speeds and support for HDR gaming, with a 30% improvement in GPU power efficiency.
Next-generation 3D cooling system:A cryovelocity vapor chamber with eight dissipation channels to help with overheating issues that have plagued previous OnePlus models.
HyperBoost gaming engine:Includes a GPA Frame Stabilizer that reduces frame rate fluctuation whengaming. GPU Load Control improves the efficiency of graphics rendering.
LSTouch:Gives a 1,000 Hz instant touch sampling rate to improve responsiveness when gaming.
150W SUPERVOOC charging: Enables the 4,800 mAh battery to charge fully in only 19 minutes, with 1,600 battery cycles guaranteed with battery health staying above 80%. In the US, the charger will come in a 125W variant. OnePlus also frontloads the first 10 minutes of charging, promising enough charge for a full day.
Improved camera performance:Except for the 2MP macro lens, which is a downgrade, the 10T comes with a 50MP Sony IMX766 sensor with optical image stabilization (OIS), a new Nightscape 2.0, and improved HDR performance.
360-degree antenna system:Fits the 10T with 15 antennas to help with signal strength, especially when gaming and holding the phone horizontally.
OxyGenOS 13(when it is finally available for the 10T):Sports an Aquamorphic design aesthetic with an always-on display and AI system booster to help memory management for more stable performance. It also comes withSnapdragon Sound-enabled spatial audio, and Dolby Atmos, faster audio switching and pairing, and a new sandbox privacy feature called Privacy Safe 2.0.

With the launch of the 10T, OnePlus also dropped the price of the OnePlus 10 Pro by $100 to $799 in the US, putting the two devices just $150 apart. For comparison, the OnePlus 9 Pro and 9 were priced at $969 and $729 respectively at launch, which was better in terms of price differentiation. But then there were issues with messaging around the ideal users for each device. Now, with the very close pricing for the OnePlus 10 Pro and 10T, there will likely be some confusion for users, who often use price as a differentiating factor between models. This will be especially true for those who want to go for the 16GB/256GB OnePlus 10T variant which will cost $749, just $50 less expensive than the 10 Pro base model.

The OnePlus 10 Pro and OnePlus 10T side by side

Going back to flagship-killer roots

OnePlus is doing its best to take up the flagship killer moniker once again with the OnePlus 10 series. While this messaging was not fully expressed at the launch, it was clearly there if you read between the lines and as you look at the two devices and the price points they are offered at. Talking with OnePlus, it promised that the flagship-killer point would be more emphasized in its upcoming marketing campaigns.

A better path forward

OnePlus is still a young company in theUSand is certainly still growing. According to Counterpoint’sMarket Monitor Service, its US market share has hovered around 2%-3% in recent quarters. Much of the initial growth was largely due to the impact of low-end LTE and 5G devices such as the N100, N200 5G and the N10 and N20 series at T-Mobile and Metro by T-Mobile. The missing piece for OnePlus for further growth lies in the expansion of its premium market share, where the OEM has struggled in the past. The OnePlus 10 T and 10 Pro give the OEM a much better shot at gaining some share from other Android players like Google or Samsung. EveniPhoneusers may find some interest as OxygenOS 12 began making nods to iPhone software via a similar Control Center swipe-down feature to access the OnePlus Shelf. OnePlus is also trying to work more with T-Mobile reps, having even invited some to the launch event to help bring more brand awareness to those boots on the ground who advise and sell phones to customers daily. OnePlus’ path to success won’t be easy in the US market, but the new two-device premium and gaming approach, combined with its big marketing pushes in both e-sports and sports, feels more purposeful than previous launches. We continue to monitor OnePlus closely.

20% YoY Decline in US Smartphone CPI Hides True Rising Costs of Devices

The US Consumer Price Index (CPI) measures the average change over time of a basket of goods and services. It is one of the primary measures ofinflation. The recent June report notes that the CPI for all urban consumers rose 9.1% over the last 12 months not seasonally adjusted.

However, during the same period, smartphone CPI declined 20% YoY. In fact, taking December 2019 as the base period, we have seen smartphone pricing decline almost every month. What does this all mean?

Source: US Bureau of Labor and Statistics, June 2022

Looking at these numbers don’t tell the full story. While the CPI does provide a good indication of inflation, when looking at the goods and services measured, it ignores the role of promotions and discounts in reducing prices. Though the smartphone market has beenfiercely competitive, full retail prices for smartphones have increased over the last several years if we ignore promotions and discounts.

5G rollouts heighten carrier competition, sweeten deals

Carrierpromotionshave increased over the years as they try to grab subscribers from each other and get more subscribers on their 5G networks.
AT&Thas pledged a promotional strategy that gives both new and old subscribers the same deals, eliminating the surprise price increases that consumers often face after promotional pricing runs out.
Verizon has been very aggressive with its trade-in offers, even allowing for broken devices to be traded in for full value at times.
t - mobile一直在兜售其伟大的免费5 g手机Upgrade program and other promotions for well over a year. We have not seen promotions cool in 2022 yet. Instead, they are better than in 2021 in many cases.

Improvements in smartphone design, components raise prices

Since the introduction of first 5G smartphones in 2019, we have seen full retail prices for devices increasing due to the added cost of 5G modules and increases in other specs to optimize 5G technology.
In addition, foldables entered the market at very high retail prices and have continued to remain a premium product.
Lastly, due to the component shortages of 2021, there was a lack of LTE chipsets, which drove up costs for manufacturers as they had to pay for higher-priced 5GSoCs.
According to Counterpoint’sUSA Channel Share Tracker, wholesale prices increased by about 20% YoY in Q2 2022.

Will we see prices increase in future?

Japan’s yen recently depreciated an almost unprecedented 20% against the US dollar, making Apple and even the carrier Rakuten raise iPhone and other Apple product prices by 20%-40%, stirring up concerns of price hikes in other countries.
In the case of Japan, many were buying these iPhones and trying to resell or ship them to other markets. The price increase took this into account.
In general, Apple pricing and volumes are locked in by carriers and rarely change in most countries. This sort of price increase in the middle of a sales cycle will likely be more rare in other economies and highly dependent on further unprecedented currency depreciation.
Supply chain and logistics costs may increase smartphone prices in the future. However, so far, these have not been passed on to the consumer in the US. Carriers are absorbing these costs by increasing services and other fees.

China Cloud on Tesla’s Q2 2022 Numbers; Fundamentals Remain Strong

Tesla sold more than 254,000 vehicles in Q2 2022, an increase of 27% YoY, which was below general expectations.
This was the first time since the COVID-19-hit 2020 that the automaker experienced a sequential decline in sales.

After achieving phenomenal growth inQ1 2022, Tesla’sglobal salesduring Q2 2022 grew by just 27% YoY to over 254,000 units, falling short of expectations. In QoQ terms, the sales fell 18%. Business during Q2 2022 was affected by COIVD-19-related shutdowns in China. Production units in and around Shanghai were closed temporarily due to strict lockdown measures. As a result, Tesla sold just 89,000 cars across China during Q2 2022. Cumulative sales in China during April and May fell by more than 66% YoY. The situation improved only after the production returned to full capacity in June.

It was expected that the Berlin Gigafactory would boost Tesla’s sales inEuropeafter becoming operational in March 2022. But the production was lower than expected. A few rumored reasons for the low production are litigation with the German government and a shortage of human resources. The Berlin factory is currently focusing on the production and deliveries of the Model Y across Europe.

Tesla bets on in-house battery cell manufacturing

Tesla delivered its first batch of cars equipped with the in-house 4680 battery cells and structural battery packs during this quarter. These cells use a little amount of lithium. With lithium prices soaring worldwide, 4680 cells will help lower the vehicle manufacturing cost. The cells will power the Model Ys coming out of the Berlin Gigafactory. However, Tesla will shut the Berlin Gigafactory for a couple of weeks during autumn to upgrade the production system of 4680 cells.

Other businesses see 33% YoY growth

Although Tesla’s vehicle sales in Q2 2022 failed to meet expectations, its other businesses like energy deployment and storage, charging and other services grew more than its vehicle segment. Energy deployment, energy storage, charging and other services grew by 33% YoY. Tesla deployed 106 MW of solar panels and 1.13 GWh of energy storage during Q2 2022. It installed 247 new superchargers worldwide, bringing its global supercharger number to 3,971 units with more than 36,000 connectors.

Tesla converts 75% of its Bitcoins to fiat currency

During Q2 2022, Tesla also converted 75% of its Bitcoins to fiat currency. This was done to have a better cash position against the backdrop of COIVD-19-related uncertainties. This conversion reduced Tesla’s digital assets to $218 million and added $936 million in cash to Tesla’s balance sheet.

Source: Tesla Q2 2022 Financials and Counterpoint Analysis

Q2 2022 Financial Results

During Q2 2022, Tesla sold more than 254,000 vehicles at 27% YoY growth. The Model 3 and Model Y comprised more than 93% of these sales.
Revenue from vehicle sales stood at $14.6 billion. Total revenue grew by almost 42% YoY, with the COVID-19 impact on China reducing the QoQ number by about 10%. Revenue generated from automotive credit also declined slightly compared to Q2 2021.
The company’s other services, like energy storage, charging and insurance, contributed to 14% of its total revenue. Revenue from insurance and vehicle services saw a 54.2% YoY growth, while the energy storage and charging segment grew by just 8% YoY. The energy storage business was expected to perform better but was restricted due to semiconductor-related supply issues.
Tesla’s gross profit during Q2 2022 reached $4.2 billion and stood at 25%. Though the shutdown in China adversely affected the business, increase in US deliveries along with the higher average vehiclepricehelped Tesla earn 47% more profit YoY.
R&D costs grew 16% YoY during Q2 2022. Tesla is trying to achieve complete autonomy by 2024 by perfecting Full-Self Driving (FSD) software. But the resignation of Andrej Karpathy, the director of artificial intelligence and autopilot system at Tesla, in mid-July is likely to stall the progress of this project, which is expected to get delayed by a year.

Source: Tesla Q2 2022 Financials and Counterpoint Analysis

Market Outlook

Despite experiencing a dip during the second quarter of 2022, Tesla’s future outlook seems strong and promising with strong fundamentals. Tesla has secured the supply of LFP batteries for its Shanghai Gigafactory by signing a deal with BYD. Transitioning to LFP batteries and 4680 battery cells will help Tesla reduce vehicle manufacturing costs. Moreover, Tesla expects the Berlin Gigafactory production capacity to cross 100,000 units by the end of 2022. With all these developments, Tesla is expected to cross more than 1.2 million units of vehicle deliveries by the end of 2022.

Qualcomm, UNISOC, ASR Lead Cellular IoT Module Chipset Market in Q1 2022

Qualcomm, UNISOC, ASR and MediaTek were the top four cellular IoT chipset vendors in Q1 2022.
4G (Cat 1 and Cat 1 bis) contributed to almost one-third of the cellular IoT module chipset shipments.
Smart meters, POS, industrial, automotive and telematics were the top five applications in the quarter.

New Delhi,San Diego, Buenos Aires, London, Hong Kong, Beijing, Seoul – July 7, 2022

Global cellular IoT module chipset shipments grew 35% YoY in Q1 2022, according to the latest research from Counterpoint’sGlobal Cellular IoT Module and Chipset Tracker by Application. China was the key region for cellular IoT module chipset consumption during the quarter, with China, North America and Western Europe accounting for over 75% of the volume. PC, router/CPE and industrial were the top three applications for 5G.

Commenting on the market dynamics,Research AnalystAnish Khajuriasaid, “Qualcomm, UNISOC and ASR held the top three positions in the global cellular IoT module chipset market in Q1 2022, accounting for nearly 75% of the total shipments.UNISOC,QualcommandASRwere top chipset players in China in terms of shipments. For the rest of the world,Qualcommled, followed byUNISOCandSequans. 4G (Cat 1 and Cat 1 bis) grew 79% YoY in this quarter.”

Qualcommled with a 42% share and 30% YoY growth across nine out of the ten key regions globally. However, competition from local players in China, such as UNISOC and ASR, in key fast-growing segments like LTE Cat-1/Cat-1 bis and NB-IoT limited Qualcomm’s growth opportunities in the world’s largest IoT market, China. However, Qualcomm has been broadening its IoT chipset portfolio, targeting premium 4G and 5G solutions for verticals such as retail,automotive, industrial robotics and smart cities. It is also collaborating with several industry application and technology providers, including Microsoft, ZTE, BMW and Bosch, to focus on high-value artificial intelligence and 5G IoT capabilities, also termed as the5G AIoTsegment.

UNISOC,the second-largest cellular IoT chipset player globally with a 26% share in shipments, has been strong across 4G (Cat 1 and Cat 1 bis) and NB-IoT technologies. Its cellular IoT chipset shipments have continued to grow for nearly last five quarters, filling the gap which HiSilicon left in the market. Moreover, it is making steady improvements in advanced cellular technologies such as 4G Cat4+ and 5G. It has also succeeded in expanding its customer base, addingQuectel, Fibocom, China Mobile and other international module players. This helped it to capture more than one-fourth of shipments in Q1 2022. UNISOC is focused on low-end applications like smart metering,POSand industrial with stronger demand for its Cat1 bis 8910DM chipset.

ASRMicroelectronicsmaintained its third rank in the cellular IoT chipset market in Q1 2022 due to strong performance in the high-volume 4G Cat 1 and 4G Cat 4 module segments. China continues to be the key market for ASR. The company is yet to launchNB-IoTand 5G solutions and thus will have to work on its long-term capabilities and strategy to maintain this high growth which could continue through 2025. ASR has increased its production capacity this year to meet demand. Local partnerships with several module players in 4G Cat 1 and Cat 4 technology, like Quectel, SIMCom, Neoway, Longsung and Rinlink, are helping drive the scale.

Commenting on the competitive dynamics,Vice President ResearchNeil Shahsaid, “The cellular modem chipset competition is heating up in the IoT module space with a growing number of players entering the higher-volume LPWA (LTE-M and NB-IoT) and lower-category 4G LTE (Cat 1 and Cat 1 bis) segments as incumbent players such as Qualcomm and MediaTek focus on the higher-value and more integrated 4G LTE and 5G segments. The move from a two-chip (discrete MCU + cellular modem) to an integrated SoC solution is happening as we enter the 5G era. Further, the addition of AI/ML capabilities in future advanced cellular IoT applications is also catalyzing this trend. However, the low-power and less advanced applications will continue to prevail into the next decade and we could see some adoption of SoC-based integrated solutions. But the discrete solutions will prevail, driving sizeable opportunities for the likes of UNISOC, ASR, Sequans, Sony Semi, Eigencomm, Xinyi and Nordic Semi.”

Other Players

MediaTektook the fourth position in this market. However, it is not much focused on the cellular IoT market compared to the smartphone chipset market. This is one of the key reasons for MediaTek having a 5% shipment share in this quarter. The company is also focusing on 5G enhancement and recently launched Kompanio 900T, a new 5G platform for tablets, notebooks and other IoT devices. The MediaTek T750 chipset launched earlier is growing strong inFWA and CPEdevices.

Global Cellular IoT Module Chipset Shipments Share by Vendor, Q1 2022

Source: Counterpoint Global Cellular IoT Module and Chipset Tracker by Region, Q1 2022

Eigencommregistered the highest growth of 869% YoY during Q1 2022, thanks to a strong partnership with Quectel and Fibocom for NB-IoT modules. However, the brand needs to diversify in terms of supporting cellular technologies beyond NB-IoT in its portfolio as well as beyond China.

Xinyiwas the second fastest growing chipset player in the market during the quarter with 230% YoY growth. Similar to Eigencomm, the company is currently focusing on the NB-IoT chipset and China region. For the near-to-mid-term, Xinyi needs to leverage its strong partnership with major module vendors such as Quectel, China Mobile, Fibocom, SIMCom, Cheerzing, Longsung, MeiG and Ai-Link and expand into newer cellular technologies to maintain the growth and market share.

Sequanswas also in a growth mode in Q1 2022 with a robust 4G, LPWA and 5G chipset portfolio and rising demand in key markets such as smart meters, healthcare and asset tracking. Sequans is the world’s second chipset vendor after UNISOC to commercialize the 4G Cat-1 bis chipset to increase its share and design wins in the growing Cat 1 bis-based IoT applications.

Sony Semicon(Altair) also saw growth this quarter with solid cooperation with Sierra Wireless and Wistron NeWeb focusing on the markets for smart meters, asset trackers and smart cities. Sony is only focusing on LPWA technology with low-power and high-security features on chipsets.

For detailed research, refer to the following reports available for subscribing clients and also for individual subscriptions:

Counterpoint tracks and forecasts on a quarterly basis 1,450+ IoT module SKUs’ shipments, revenues and ASP performance across 80+ IoT module vendors, 12+ chipset players, 18+ IoT applications and 10 major geographies.

Background

Analyst Contacts:

Anish Khajuria

Neil Shah

Counterpoint Research

press@www.arena-ruc.com

Related Reports:

Feature phones still have a place in the US market

Feature phones see an average share of just 2% in theUS handset marketbut their shipments still remain consistent. These feature phones still have their place in the handset market due to their affordability, simplicity and ruggedness that appeal to various consumer bases. Although smartphones are becoming more affordable, they are yet to match the simplicity and durability offered by feature phones.

Basic phones in a complex world

Smartphones became popular quickly and evolved even faster to embrace new ways to use them to interact with the world, likeQR codes, touchless payment and GPS navigation. Although it seems like everyone in the US owns a smartphone, there is a consumer base that is not interested in the specs, or cannot get the hang of the smartphone layout. Such consumers still choose the simple layout of the feature phone which allows them to make phone calls and send SMS messages but lacks all the bells and whistles of a smartphone, like merging data from the cloud and interaction with apps. The longer smartphones are in the world and people continue to live in a digital world, the adoption of smartphones will keep on rising but it will still be a slow adoption and likely never reach 100%.

Feature phones still have their place in market

The consumer base for feature phones has typically been the following:

Workers in fields that require a tough phone in case of damage (i.e. farming, mining, construction, etc.)
Criminal use cases to prevent tracking – burner phones.

There are newer use cases for feature phones also. Some consumers may use the feature phone as a secondary device for either traveling (less concerned if the device gets broken or lost) or for digital disassociation/break from the apps, notifications and global connectivity that come with a smartphone. These are much smaller drivers for feature phones than those mentioned above but important to note as large smartphone OEMs like Apple are taking steps to address the concept of digital disassociation through software updates (like thenew “focus”feature that allows the users to disconnect from apps/notifications for productivity or just for a break from being connected). These sales would be seen in the prepaid channels and well-known national retailers (likeWalmartand Best Buy) along with a temporary SIM card.

Conclusion

Feature phones remain consistent in the US as their simple design, affordability and ruggedness still pander to specific demographics. Although there will not be a significant spike for feature phones in the market, there are consistent needs that create the steady demand for feature phones in a smartphone-dominated market. Prepaid channels will continue to sell these devices to accommodate an affordable and durable option for people who only need a simple device.

See the full reportherefor more information

US Smartphone Market to Grow 2% YoY in 2022 as Inflation Weakens Demand

Los Angeles, Denver, Buenos Aires, Toronto, Montreal, London, New Delhi, Hong Kong, Beijing, Seoul – June 9, 2022

The US smartphone market will experience 2% YoY growth in 2022, according to Counterpoint’sMarket OutlookService. The latest forecast has been revised downwards from the previous forecast of 6% YoY growth in 2022, as demand will be suppressed in the remaining quarters due toinflationary pressures.

Source: Counterpoint Market Outlook

Commenting on the forecast and consumer demand,Research Director Jeff Fieldhacksaid, “We began the year with strong sell-in momentum, withQ1 2022seeing 6% YoY growth due to solidpostpaiddemand. However, we are adjusting our shipment forecast numbers downwards as we are increasingly seeing the impact of inflation in the US market. Last year, we saw supply as a much bigger issue aschipset shortages智能手机制造业的影响。然而,这个year, it is more of a demand issue. Americans have changed their purchasing patterns — instead of tech products, they are spending more on experiences like travel and going out. In addition, as fuel prices go up due to inflation, people are making fewer trips to retailers and are adjusting their purchasing behavior even further. Baskets of goods have become costlier due to increased supply chain costs related to transportation.”

Commenting on channel dynamics,Senior Research Analyst Maurice Klaehne said, “Prepaidsales will be most affected by weak demand as this is the most price-sensitive segment in the US. This is also where any price increases for devices will be most heavily felt by consumers. We see national retailers feeling the impact of inflation, but it is more of a mixed bag. Walmart, a one-stop shop for groceries, tech products and much more, may be less impacted compared to Best-Buy, which is a very specialized tech retail store. Consumers will shop where it makes the most sense for them to get as much done as possible. Postpaid, on the other hand, is more insulated. Even with Verizon and AT&T raising service plan costs, we don’t expect there to be a strong shift from postpaid to prepaid. In April, consumer demand for postpaid devices remained strong due to promotions. Verizon extended its offer of $800 off the iPhone 13 series to existing customers with qualifying trade-in and plan. It had previously only been available to new customers. AT&T and T-Mobile continued to offer strong trade-in promotions of their own. Additionally, the bundling of freebies like Netflix, HBO Max and Disney+ may be helping to keep customers from cutting their lines in favor of prepaid options.”

Research Analyst Matthew Orfadded, “Despite the headwinds in prepaid, there are several scheduled industry events that will help low-end smartphone sales in 2022. 3G sunsets will force carriers to move subscribers onto new LTE and 5G devices.AT&T’s shutdown was scheduled for February 2022, with Sprint’s network following in March, T-Mobile in July, and Verizon in December 2022. Dish will also need to move millions of subscribers to its new MVNO partner AT&T. In addition,Verizonwill attempt to move as many TracFone subscribers over to its network from AT&T and T-Mobile. All these events will require users to switch to new devices, mainly LTE, which will help maintain smartphone sales despite inflationary pressures.”

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst contacts:

Maurice Klaehnemaurice@www.arena-ruc.com

@MKlaehne

Matthew Orfmatt.orf@www.arena-ruc.com

@MatthewOrf2

Hanish Bhatiahanish@www.arena-ruc.com

@Hanish2501

Jeff Fieldhackjeff@www.arena-ruc.com

@JeffFieldhack

Disclaimer

Counterpoint Technology Market Research All Rights Reserved. Reproduction of this publication in any form without prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. However, we disclaim all warranties as to the accuracy, completeness of this report. Counterpoint shall have no liability for errors, omissions or inadequacies in the information contained and any direct/indirect damages. All opinions and estimates herein are subject to change without notice.

US Smartphone Sales Decline 6% YoY in Q1 2022 as Pandemic Demand Cools

The US smartphone market declined by 6% YoY in Q1 2022.
Apple led the market in Q1 2022, capturing a 47% share, followed by Samsung (28%) and Motorola (12%).

Los Angeles, Denver, Buenos Aires, Toronto, Montreal, London, New Delhi, Hong Kong, Beijing, Seoul – May 2, 2022

US smartphone sales were down 6% YoY in Q1 2022,according to Counterpoint Research’s latest data from its US Monthly SmartphoneChannel Share Tracker. Premium device sales slowed after the holiday quarter, continued supply constraints affected both 5G and LTE devices, and tax season sales were weaker as Q1 2021 saw added stimulus money boost.

Commenting on the market performance,Research Director Jeff Fieldhacksaid, “WhileQ1 2022did see weaker sales compared to last year, this needs to be seen in context. It is not a sign of the market contracting because last year’s Q1 was unusually high due to several factors driving demand.Apple’s iPhone 12 series sales pushed into Q1 2021 due to its staggered launch causing higher premium demand in a usually soft quarter. $1,500 stimulus checks were also given out, which helped boost the economy that was suffering from COVID-19 impacts. LTE sales saw an uptick due to tax-season discounts and pent-up demand in Q1 2021. Looking at Q1 2022, there were still solid performances from Apple and Samsung, with Motorola, Google, TCL and OnePlus seeing YoY increases in volumes due to LG’s exit.”

Commenting on OEM dynamics,Research Analyst Matthew Orfsaid, “Apple and Samsung continued to dominate the market with a combined 75% share and had some of their best performances to date. However, some attention should also be brought to smaller OEMs that are beginning to capture more mindshare of consumers due to LG’s exit. Motorola has been very aggressive, becoming thethird largest OEMin 2021. In Q1 2022, its market share reached 12%, the highest quarterly share to date. Motorola is refreshing its G series with new 5G devices in Q2, the Moto G Stylus 5G 2022 and Moto G 5G, which will help the OEM increase its 5G sales in 2022.TCLalso made big gains in market share to reach almost 3%. While known for its TVs, TCL has been putting in extra marketing efforts to win mindshare in prepaid channels. It won several SKUs at Metro by T-Mobile, with the TCL 20 XE and TCL 30 XE 5G helping it gain market share. OnePlus did grow in share YoY, but the OEM had a slow quarter overall as the increased low-end competition resulted in contracted sales. The launch of theOnePlus 10 Prohas been relatively weak, but the OEM hopes to recapture some share with the new N20 5G that will launch in early Q2.”

Commenting on the US market outlook,Senior Research Analyst Maurice Klaehnesaid, “There are certainly some headwinds coming which may impact theoutlook2022年余下的时间,但我们仍然谨慎地选择imistic. The US GDP fell 1.4% in Q1 2022, but consumer spending actually rose 2.6% YoY. Smartphones are often insulated from inflationary pressures, especially higher-end devices from Apple and Samsung. But the low end may be more affected in the coming months due to less attractive deals or promotions. COVID-19 lockdowns are once again resurfacing in parts of Asia, but they have not impacted supplies so far. There will also be massive network migrations occurring as 2G and 3G sunsets come to fruition this year. This will certainly give a lift to smartphone sales as carriers will need to move millions of subscribers to LTE or, preferably, 5G smartphones. MediaTek has been slowly gaining share in the US market, reaching 37% share in the Android segment in Q1 2022. We expect further increases in its share in 2022 as lower-end LTE and 5G smartphones are shifting to MediaTek chipsets. Recently, Motorola, white-label devices from AT&T, T-Mobile and Boost, and select Samsung devices such as the Galaxy A03s have switched from Qualcomm to MediaTek.”

Other Key Q1 2022 Highlights

Apple revenues reached over $14 billion.iPhone 13sales made up close to 80% of all iPhone sales in the quarter. This is the highest sales share mix for new devices to date.
Samsung had a28% market share in Q1 2022.The S22 andA-series推出了三星达到最高Q1市场share since Q1 2014.
Motorola reached its highest Q1 market share to date at 12%.The Moto G Stylus 5G, Moto G Pure and Moto G Play 2021 were the top three best-selling devices during the quarter.
OnePlus sales were up 21% YoY. The OEM’s growth cooled somewhat but it remained active in T-Mobile and Metro by T-Mobile as it started to refresh its portfolio in March and April.
Google grew its sales 152% YoY.The Pixel 6 and Pixel 6 Pro make up over 90% of its sales.
Alcatel-TCL继续夺回市场份额,达到3%Q1 2022. It was heavily impacted by COVID-19 shutdowns in 2020 but continued to win SKUs in T-Mobile, TracFone and Boost Mobile.
MediaTekregistered its highest Android market share to date at 37%.It captured share especially through its LTE SoCs, where it dominated with over 54% market share in LTE devices.

Background

Analyst contacts:

Maurice Klaehnemaurice@www.arena-ruc.com

@MKlaehne

Jeff Fieldhackjeff@www.arena-ruc.com

@JeffFieldhack

Matthew Orfmatt.orf@www.arena-ruc.com

@MatthewOrf2

Disclaimer

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