Apple analyst Ming-Chi Kuo said yesterday evening that iPhone 11 demand during the first 72 hours of pre-orders, exceeded expectations, particularly in China. Other analysts are now supporting Kuo’s claims as we get closer to the iPhone 11 launch on Friday.
Reuters notes that some analysts and retailers are citing supply chain and shipment checks as they are seeing huge improvements in new iPhone demand compared to last year. According to JD.com, a Chinese e-commerce site, iPhone 11 pre-orders have increased 480 percent compared to last year.
Speaking about the color, the retailer says that midnight green is the most loved color for the iPhone 11 Pro. In China, black and purple are said to be more in demand for the iPhone 11. In the meantime, iPhone sales on Alibaba’s online Tmall commerce platform are up 335 percent compared to iPhone XR sales last year, the report says.
Somewhere else, analysts from Instinet, a division of Nomura bank, say that the demand for iPhone 11 and iPhone 11 Pro is “ahead of last year’s launches.” They think an increase in unit sales could result in a drop in average selling price:
Instinet analysts wrote in a note, “We are careful about extrapolating first weekend data, though it is fair to say it is ahead of last year’s launches. Should the early shipment time data hold and translate to unit volumes, Apple may be able to offset this year’s average selling price reduction.”
Analyst at Wedbush, Daniel Ives, also informed Reuters that early supplier checks across Asia show that iPhone 11 demand is “looking good” till now. However, Ives has not still published a detailed report on iPhone 11 demand.
Yesterday, analyst at TF Securities, Ming-Chi increased his estimate for new iPhone shipments in 2019 to 70-75 million units, up from his prior 65-70 million estimate. Kuo said that the accessibility to trade-in programs and financing was motivating upgrades this year. He also added that the price point of the iPhone 11 at $699 is making it a perfect upgrade for users of the iPhone 6, iPhone 6s, and iPhone 7.
Pre-order shipments for the first iPhone 11 and iPhone 11 Pro are available now, with the device becoming officially available on September 20th.