The iPhone turned in a “flat” third quarter while Chinese brands Huawei and Xiaomi droves sales in their home country to grow their shares of the global smartphone market.
The smartphone market grew by 1.4 percent to reach 389 units. Take Huawei and Xiaomi out of the equation, and global sales would have declined by 5.2 percent, according to the research firm Gartner, Inc.
Goldman Sachs has added its name to the list of financial institutions worried about stagnating iPhone sales.
“We are concerned that end demand for new iPhone models is deteriorating,” Goldman Sachs wrote in a new note to clients. The firm estimates that Apple will produce 6 percent fewer iPhones next year than it did in the year previous. However, the big investment banking company admits it could be jumping the gun.
Respected Apple analyst Ming-Chi Kuo just slashed his estimates for the number of iPhone XR units that will sell over the next year. That’s a real turnaround, as Kuo had previously been bullish on Apple’s latest handset.
And he’s not the only analyst expressing concerns about sales of the iPhone XR. But it’s also possible this model is just following a pattern first laid down by the iPhone X.
Apple just posted its Q4 2018 earnings report and, per usual, it was another record-breaking quarter for the iPhone-maker.
Revenue and iPhone sales came in slightly higher than Wall Street’s expectations, while Services revenue hit an all-time high of $10 billion. Another record-breaking quarter looks like it’s on the horizon, too. Apple CEO Tim says the company is heading into the holiday season with its strongest lineup ever.
Respected analyst Ming-Chi Kuo thinks the iPhone XR is going to be a massive smash hit for Apple — and it seems everyone is being taken by surprise by how in-demand it will be.
In a recent note to investors, Kuo increased his estimate for fourth-quarter iPhone XR shipments by 10 percent. Instead of 33 million to 35 million iPhone XR units over the quarter, he now thinks Apple’s suppliers will ship out 36 million to 38 million units.
Foxconn is best known for assembling iPhones, so it’s watched as a sign of demand for Apple’s most important product.The Chinese company just reported its revenue increased 30 percent last month, an indication that there’s plenty of demand for the iPhone XS models that debuted in September.
This is just the latest hint that Apple’s latest are performing well.
Almost everyone who wants a smartphone already has one, so device makers depend on upgrades among current customers to make money. Fortunately for Apple, an analyst reports there’s a surge of interest in buying a newer model.
The rising desire to upgrade isn’t limited to iPhone users, but the analyst says Apple will benefit the most.