Demand for new iPhones weaker than Apple expected, claims report

21 November, 2018, 11:44 | Author: Regina Silva
  • Apple's Facial Recognition Software

With the iPhone XS Max which can go as high as RM7,049, we should see higher revenue per unit for Apple.

Apple didn't immediately respond to Variety's request for comment, and the company isn't expected to be very transparent about its holiday quarter iPhone sales: Apple executives told Wall Street during the company's fiscal Q4 earnings call earlier this month that it they would stop reporting iPhone sales numbers going forward. In addition, the iPhone has been the smartphone with the highest sales figures per model for years anyway and it will remain that way - reduced production or not.

USA stocks fell on Monday, as a slide in Apple's shares on concerns about iPhone demand hit its suppliers and the technology sector, with mixed signals over the state of play between the United States and China on trade dispute adding to the weakness.

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Goldman Sachs first sounded the alarm on Apple one week ago, writing that "end demand for new iPhone models is deteriorating". As a result, Apple has reportedly lowered its production orders with suppliers. Now this fate has befallen the expensive iPhone XS and iPhone XS Max. "In our experience with mobile phones, when pricing power is lost, consumer technology companies tend to either lose margins or market share or both". In the case of the iPhone X, there are reports it wasn't doing well due to slow growth at Samsung's display unit. Such concerns are thought to be why Apple made a decision to stop reporting unit sales, which analysts relied on as a key metric.

"Without the FAANG leadership, including Apple, the market is going to struggle", said Peter Cecchini, managing director and chief market strategist at Cantor Fitzgerald in NY.

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