IPhone X demand looks to be substantial, not exceptional

BROKERAGE SURVEY

Days before much-awaited iPhone X opens for preorders, a survey by brokerage Bernstein showed demand for the device will be substantial, but not exceptional, with about a quarter of the respondents planning to buy the phone.

Anticipation around the 10th anniversary iPhone, which opens for preorders The new iPhone X, which opens for preorders Oct. 27 and begins shipping Nov. 3, has dented demand for iPhone 8 and 8 Plus. Oct. 27 and begins shipping Nov. 3, has dented demand for the just-launched iPhone 8 and 8 Plus.

Apple shares fell last week after reports of iPhone X production delays and weak sales of iPhone 8 models.

“The excitement surrounding the iPhone X appears to be magnitudes higher than actual purchase intent — 48 per cent of respondents agreed/strongly agreed that they were ‘excited for the iPhone X,’” Bernstein said, citing a survey of 1,112 iPhone owners in the U.S., U.K. and China.

Apple launched iPhone 8 and 8 Plus last month to a muted reception as fans awaited the iPhone X, and a survey by KeyBanc Capital Markets had pointed out that older iPhone 7 models outsold iPhone 8.

While it was doubtful how many iPhone users will upgrade to the US$999 iPhone X, a majority will still choose an Apple device, according to the survey. “Consumer loyalty to iPhone remains remarkably strong,” Bernstein said.