Apple could sell up to 200 million of its latest iPhones from existing customers upgrading their older devices and far of that demand will come from China despite an ongoing trade conflict, Wall Street analysts predicted Monday.
The Cupertino, California-based firm is widely anticipated to launch three new iPhones on Tuesday, featuring upgraded processors and new digicam functionality, including a video streaming service that will beat the likes of Netflix and Walt Disney.
The upgrade cycle could turn into roughly 180 million iPhone units sold in the subsequent 12 months with approximately 60 million to 70 million customers due for an upgrade in China, where Apple struggled with its last launch, Wedbush analysts said.
Apple currently has around 900 million active iPhones globally, and the combination of slow sales for its iPhone X launches since 2017 and relatively tight control of pricing may drive demand from customers who’ve been holding out previously, analysts said.
Apple’s 2020 fiscal year begins from October, and none of the brokerages anticipated it to launch a 5G-enabled iPhone this time round – in contrast to recent 5G launches by Samsung Electronics and China’s OnePlus.
Analysts and other trade watchers expect Apple to launch three smartphones: a 5.8-inch iPhone 11 Pro, 6.5-inch 11 Pro Max and a low-priced 6.1-inch 11R.
The base model is predicted to be priced at $749, the iPhone 11 Pro at $999 and iPhone Pro Max at $1,099, roughly consistent from last year’s costs, with the company opting to push through any potential taxes on the devices in favor of boosting sales sizes.
Apple has seen bumps in demand in China this year, driven by Chinese online retailers discounting devices.