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.
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
I've never seen an iPhone launch whose demand was lower than expected
arn
The lineup this year is very good.