Kuo: iPhone 12 Pro Demand Higher Than Expected

TF International Securities analyst Ming-Chi Kuo released a research note this morning detailing what he's seen with the volume of iPhone 12 and ‌iPhone‌ 12 Pro pre-orders in the first weekend of sales.

iphone 12 vs iphone 12 pro
Kuo had previously indicated that Apple's estimated shipment allocations for the new ‌iPhone‌ models placed the ‌iPhone‌ 12 at the top with 40-45% of inventory allocation (up from 15-20%). However, the strong interest in the ‌iPhone‌ 12 Pro in pre-orders has caused him to revise that split:

The iPhone 12 Pro pre-order beat our expectation because of Apple core fans’ initial preference for high-end models, the strong demand in the Chinese market, and the coming peak season demand in the US and Europe.

Due to the demand, Kuo sees the ‌iPhone‌ 12 and 12 Pro to each have approximately 30-35% share each of new ‌iPhone‌ shipments in this quarter. Meanwhile, Kuo also downgraded his expectations for the iPhone 12 mini with estimates that it will be responsible for only 10-15% of sales (down from 20-25%). Kuo cites weak demand for the smaller device in the Chinese market.

The ‌iPhone‌ 12 Pro and 12 are very similar devices, though the Pro model has LiDAR, a telephoto camera lens and more RAM. More detailed comparison available:

The ‌iPhone‌ 12 and 12 Pro became eligible for pre-order on Friday, October 16. The ‌iPhone 12 mini‌ and iPhone 12 Pro Max pre-orders kick off on November 6.

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Top Rated Comments

sniffies Avatar
49 months ago
It's the same story every year

I've never seen an iPhone launch whose demand was lower than expected
Score: 33 Votes (Like | Disagree)
arn Avatar
49 months ago

It's the same story every year

I've never seen an iPhone launch whose demand was lower than expected
This is specifically about the Pro vs the non-pro. So in this case non-pro demand was lower than expected.

arn
Score: 21 Votes (Like | Disagree)
ilikewhey Avatar
49 months ago
kinda obvious when you jack up the price for 12 by 100 bucks, after matching the storage difference is only 120-150 depending on carrier.
Score: 19 Votes (Like | Disagree)
GermanSuplex Avatar
49 months ago
I originally was torn between the pro max and the mini - the mini for the size and how it was quite an upgrade over my XR, but I really like the pro camera features. However, I ended up compromising and going for the 12 pro. I’m just starting on iPhone photography, but the Max Pro is just too big a phone. I love the size of the XR.
Score: 12 Votes (Like | Disagree)
newyorksole Avatar
49 months ago
Gonna be a lot of Pacific Blue iPhones out there Lol.

The lineup this year is very good.
Score: 11 Votes (Like | Disagree)
pioneer9k Avatar
49 months ago
Upgrading from my X, I would miss the telephoto lens for sure. I also appreciate the brighter screen and more RAM and 128gb. Thats why I went with the Pro
Score: 11 Votes (Like | Disagree)