Technology
Analyst: First-day iPhone preorders in China weaker than last year
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From a note to clients that landed on my desktop Friday morning:
We performed channel checks in relation to initial online and offline preorder data for the new iPhones that were announced on September 12. Compared to the last few years, our research tells us that first day preorders in China for the iPhone XS and iPh- one XS Max is weaker than previous iPhone launches.
We believe the weakness in preorders for the new iPhone models is attributable to:
We will continue to track China Mobile, JD.Com, and other online channels over the next few weeks in order to get the full picture. We do believe that the big difference in price, compared to older iPhone models (iPhone 6, 7, and 8), is having a significant impact on sales, so it may be difficult to compare to later iPhone models.
Maintains Buy rating and $200 price target.
My take: Zhang did a similar count last year and correctly predicted that the iPhone X would outsell the 8 and 8 Plus.
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