Advertisement

Iphone X shipping delay may dampen Apple's holiday quarter

Iphone X shipping delay may dampen Apple's holiday quarter
From Reuters - September 13, 2017

(Reuters) - Apple Incs highly anticipated iPhone X features a slew of innovations but delayed availability could hurt holiday-quarter sales.

The much-hyped event on Tuesday unveiled three new phones, an advanced watch that can take calls and a new Apple TV, but die-hard fans will not be able to get their hands on the iPhone X until Nov. 3 - much later than iPhone 8s shipping date of Sept. 22.

The delay in shipping of the iPhone X could hurt Apples seasonally-strong fiscal first quarter as orders get pushed to the following quarter. The phone will start at $999 for the 64 GB version.

Apples shares were down 1 percent at $159.35 in early trading on Wednesday.

Although decked out with facial recognition technology, front and back glass, a 5.8-inch edge to edge display, wireless charging and animated emojis, some analysts said the delay tempers near-term sales and a few adjusted their estimates.

Given one month less sales for the iPhone X during the December quarter, we have reduced our December quarter iPhone sales estimates from 84 million to 79 million units, Canaccord Genuity analysts wrote in a client note.

The companys iPhone 8 and 8 Plus did not veer far away from previous models, sporting modest new features such as a glass body, wireless charging, better camera and a faster processor. This could lead consumers to wait for the iPhone X.

None of the features in the version 8 product will likely accelerate demand, Mizuho analysts wrote in a note.

Advertisement

Continue reading at Reuters »