Apple iPhone X, the redesigned tenth anniversary iPhone, is off to a great start despite limited supply. The iPhone X is matching the iPhone 8 Plus when it comes to adoption and has surpassed 2 percent install base in eight countries within just three weeks of its availability. Also Read - PUBG New State receives over 17 million pre-registrations as closed alpha testing ends
According to IHS Markit, the initial levels of iPhone X adoption have strong correlation to high gross domestic product (GDP) countries such as Singapore, Denmark, Switzerland and Japan. The research firm notes that consumers in these market have great interest in smartphones offering larger displays and high-quality dual cameras. Digitimes further adds that consumers in these markets are also willing to pay higher price for a Plus model or iPhone X over regular iPhone. Also Read - iPhone selling in LG stores? Apple is apparently in talks for a new deal
In the US, the iPhone X adoption after three weeks has matched that of iPhone 8 Plus and its initial adoption is reportedly better than iPhone 8 and iPhone 7 Plus. IHS Markit notes that only iPhone 7 had initial adoption higher than these smartphones. The iPhone X had good or better adoption than any of the recent iPhone models in Japan and matched that of iPhone 7. Also Read - Apple CEO Tim Cook claims iOS is more secure than Android
The report also notes that Apple iPhone X has enjoyed strong demand in the first three weeks of its availability despite production constraints. Its adoption has been similar to that of previous flagship iPhones in the markets where it is available in the same period.
With improved supply, IHS Markit expects Apple to record its best ever year for iPhone in terms of sales and expects the Cupertino-based company to announce increase in sales during the next four quarters. “In the fourth quarter of 2017, IHS Markit forecasts Apple will ship 88.8 million iPhones – this will be the highest number of iPhones ever shipped in one quarter.”
The new data from IHS Markit reveals that the average selling price (ASP) will exceed $700 for the first time this year due to the $999 starting price of iPhone X. The company is poised to become the first to reach $1 trillion in terms of market capitalisation and the iPhone X will likely be the major contributor.