The Apple iPhone X isn’t selling as well as everyone hoped. Back in December, analysts predicted lukewarm demand for the iPhone X in Q1 2018 due to its high price. Now, according to a report by CNBC, KeyBanc Capital Markets says that the demand for the iPhone X is below expectations and less than Apple’s iPhone 8 models.
“While iPhone X supply has improved meaningfully and remains very lean, feedback indicates sell-through has been somewhat disappointing,” analyst John Vinh wrote in a note to clients Sunday. “iPhone X demand was lower than the iPhone 8/8 Plus due to the price tag and limited promotion. However, the inventory level remains healthy given Apple just resolved the supply constraint. Based on our conversations with carriers, we saw worse-than-expected iPhone X demand.”
The analyst also noted that total iPhone demand “appears inline” due to iPhone 8 promotions. Apple iPhone X smartphone, the most expensive one it’s ever made, probably generate more demand initially. But thanks to the extremely limited supply during the first month of availability, we still can’t narrow down as to how successful iPhone X sales have been.
Recent reports hinted that Apple might consider slashing the price of the iPhone X. Analysts have lowered shipment forecast for the iPhone X from 50 million units to 30 million units in first quarter of 2018.
The iPhone X is the most expensive iPhone so far. The 64GB base variant was launched for Rs 89,000, but after the recent price hike, it now retails for Rs 92,430. Similarly, the 256GB variant was launched for a whopping Rs 102,000, but it is now selling for Rs 105,720.