iPhone X remained the best-selling handset in Europe throughout the first quarter of 2018, despite a substantial drop in overall shipments as a result of “smartphone fatigue.” Apple reportedly shipped more than 10 million devices during the three-month period.
Apple shares fell 3 percent this morning after iPhone chipmaker Taiwan Semiconductor Manufacturing (TSMC) cut its revenue forecast for the second quarter of 2018.
The company and industry analysts point to weak demand for high-end smartphones as the main reason for the poor guidance. This likely has something to do with the fact that iPhone X sales have been in the gutter since early hype quickly died out late last year.
iPhone X looked set to become the beginning of a worrying smartphone trend when it went on sale last November, sporting a hefty $1,000 price tag. We were sure future flagships would be similarly expensive. But consumers just aren’t having it.
With iPhone X demand showing no signs of improvement in 2018, analysts are warning that the market “may not tolerate” rising smartphone prices.
The iPhone will gain market share as Samsung loses its grip in 2018, according to new predictions.
Apple is one of just three companies that are expected to see growth this year following weaker-than-expected smartphones sales in late 2017. TrendForce expects total handset production to grow just 2.8 percent, down from the 5 percent previously expected.