The news: Global iPhone production reached a quarterly record of 85.5 million units in Q4 2021, ending in December, a 66% QoQ increase, per 9to5Mac.

More on this: A report from TrendForce shows that Apple’s supply-chain management acumen and high demand for the iPhone 13 helped buoy global sales despite the impact of the chip and component crisis.

• Apple posted $123.9 billion in revenue with a record profit of $34.6 billion for the company’s fiscal Q4 2021, its largest quarter revenue despite shipping fewer units due to the global chip shortage.
• The company brought in $71.63 billion in iPhone sales for the quarter, representing 58% of Apple’s revenue. 
• It reclaimed leadership of the smartphone market—pushing Samsung down to the No. 2 spot—in terms of shipments for Q4 2021, per Canalys.
• Apple’s success could be credited to price reductions on older models, as well as filling the void from Huawei’s retreat from the smartphone industry. 

The opportunity: Apple can continue to capture more global market share at the mid range of the market with its more-affordable 5G-enabled iPhone SE, which is expected to launch this month.