Last month, KGI’s superb Apple analyst Ming-Chi Kuo (who had the best iPhone X leak of the year back in February) predicted that Apple would ship 2 million to 4 million units of the Apple iPhone X during the third quarter.
Supply constraint is the reason behind the company not achieving the balance.
The analyst also added that Apple’s move to delay the iPhone X pre-order and shipping date is likely because the company wants to prevent the cannibalization of the iPhone 8 and iPhone 8 Plus sales. We revise down our forecast for 2017F iPhone X shipments from 45-50 million to around 40 million units, but we therefore revise up our 2018 iPhone X shipment estimate to 80-90 million units. This, of course, shouldn’t come as too much of a surprise, especially given that pre-orders for the device won’t even open up until October 27, with deliveries expected to begin on or around November 3rd.
Many iPhone 8 models were still in stock for its September 22 launch as of Friday afternoon, while the hottest 8 Plus models were only delayed by 1 to 2 weeks.
The report shows neither KGI nor other Apple investors seem to be anxious that the lack of a gold iPhone X option at launch will impact on the number of iPhone shipments.
Rather than having one shiny new toy to focus their attention on, shoppers are now split between ordering the iPhone 8 and waiting to hear feedback on the iPhone X once it launches in November.
The new iPhone X will be available in 64GB and 256GB storage capacities, priced from $999 upwards. The higher-end variant, on the other hand, will cost $1,149 in the United States and Rs 1,02,000 in India.