Apples most expensive smartphone, the new iPhone X, sold out in less than ten minutes upon being made available for pre-order on the 27 October.
The new iPhone starts at £999 with 64GB of storage and the most expensive model is priced at £1,149 with 256GB of storage.
Despite the huge price tag, demand remains high. The company’s online shop experienced server issues in the minutes immediately following the launch of pre-orders and the initial allocation of devices, which were expected to be delivered on 3 November, had completely sold out within the first ten minutes.
The iPhone X rapidly selling out may not be entirely good news for Apple. The company has reportedly been concerned it will face supply constraints for the new iPhone, with a story in the press claiming its annual output was expected to be just 20m units, half of what Apple had initially planned.
This isn’t Apples only problem. The company is also trying to balance demand for its other new smartphones, the iPhone 8. Initial reports suggest that the iPhone 8 and 8 Plus experienced sluggish sales in their first few weeks on sale, compared to previous iPhone launches.
If we compare this to last year when the iPhone 7 and 7 Plus had just been released, the sales of both phones accounted for 43% of launch quarter sales, accord to data Fromm Consumer Intelligence Research Partners (CIRP). The iPhone 8 and 8 Plus account for just 16% of all iPhone sales this quarter.
Co-founder of CIRP, Mike Levin had this to say: “It seems when Apple announced the forthcoming iPhone X, it changed the market dynamic, and probably depressed demand for the iPhone 8 and 8 Plus,”
“Rather than waiting for and buying the iPhone 8, it looks like buyers in this quarter either bought existing models or decided to wait for iPhone X, later in the year.”
360group – Mobiles in St Ives
Thank you for reading our latest news. For more information on any of our services, get in touch with us today.