iPhone 12 Series Still Strong Despite Weaker Demand, Says JP Morgan Analyst

Quarterly shipments of Apple's iPhone 12 series continue to enjoy a year-on-year increase, despite weakening demand for the devices, according to JP Morgan analyst Samik Chatterjee (via AppleInsider).

iPhone 12 Layout Feature
In an investor note from the analyst, Chatterjee decreased his 2021 iPhone shipment expectations from 236 million units to 230 million units, but noted that this number was still equivalent to a 13% overall increase in volume shipments for Apple compared to 2020.

Chatterjee's revised expectations are based on a significant cut in ‌iPhone 12‌ Pro shipments and weaker-than-expected demand for the iPhone 12 mini, both of which make the bank "take note of a weaker demand environment." Chatterjee continues to believe that Apple will discontinue ‌iPhone 12 mini‌ production in the second quarter this year.

A report at the start of the year suggested Apple's ‌‌iPhone 12 mini‌‌, which is the smallest ‌‌iPhone‌‌ that has been released since the 2016 iPhone SE, has not been selling as well as Apple hoped, making up just 6% of ‌iPhone 12‌ sales in the U.S. in October and November. A later report claimed that the ‌‌iPhone 12 mini‌‌ accounted for only 5% of all ‌‌iPhone 12‌‌ sales in the U.S. in the first half of January.

The JP Morgan analyst puts the slowing demand for the ‌iPhone 12‌ series as a whole down to weaker consumer spending in China and a normalization of demand trends following the initial excitement surrounding Apple's adoption of 5G connectivity in the ‌iPhone 12‌ series.

Chatterjee revised his shipment estimate to 52 million units for the March quarter, a 3 million decrease compared to his original expectations. For the June quarter, the analyst revised the number to 42 million units from 36 million units.

"However, at this time we do not see any reason to change our 2H21 volume forecast," said Chatterjee, noting that the supply chain is sticking with its 80 to 90 million build estimate for the first half of this year.

Related Roundup: iPhone 12
Related Forum: iPhone

Top Rated Comments

ian87w Avatar
25 months ago
Meh, typical Apple cycle. Sales will keep slowing down until the next iPhone is released. Getting tired of analysts proclaiming the obvious.
Score: 10 Votes (Like | Disagree)
44267547 Avatar
25 months ago
This same re-hashed article rolls out almost every single year at this time, we’re six months into the halfway point from the iPhone 12 launch, which always has a drag in sales. But, I also suspect the unstable economy might have an affect on iPhone sales, which consumers probably won’t upgrade unless absolutely necessary.
Score: 3 Votes (Like | Disagree)
Romeo_Nightfall Avatar
25 months ago
still STRONG
Score: 2 Votes (Like | Disagree)
DeepIn2U Avatar
25 months ago

This same re-hashed article rolls out almost every single year at this time, we’re six months into the halfway point from the iPhone 12 launch, which always has a drag in sales. But, I also suspect the unstable economy might have an affect on iPhone sales, which consumers probably won’t upgrade unless absolutely necessary.
This isn't size months ... we're about to start the 4.5mth (mid-October 2020 launch).
Score: 2 Votes (Like | Disagree)
ikramerica Avatar
25 months ago
We did our part. My wife loves her valentines day 12 as a replacement for her old 6+. Granted it’s much much faster, but it’s also lighter and smaller for roughly the same screen width, higher dpi and much better main camera. She says she doesn’t miss touch ID, but I still would miss it.
Score: 1 Votes (Like | Disagree)
7493920 Avatar
25 months ago
No way iPhone mini gets discontinued during second quarter. Maybe they decide to not continue to produce it at a lower price after the next generation iPhone gets introduced.
Score: 1 Votes (Like | Disagree)

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