iPhone X Performance Helps Apple Keep Stranglehold on North American Smartphone Market
Even with the production issues and delayed launch, analysts expected that the iPhone X would eventually help Apple recoup from the struggles experienced with the iPhone 8 launch. Most estimates, though, placed the impact sometime during the first quarter of 2018.
A new report from Canaccord Genuity, though, suggests that the iPhone X has already turned things around—at least from a revenue perspective—for Apple. The firm’s figures show that Apple caputred 72 percent of the total North American smartphone profits during the most recent quarter, which is up from 68 percent during Q2. And, looking ahead, the firm expects Apple to grab an even higher percentage thanks to the increased cost of the X, which starts at $999.
"We believe initial iPhone X demand is very strong with decreasing lead times indicating ramping production, and we maintain our 78.5 million December quarter iPhone estimate," Canaccord’s T. Michael Walkley told U.S. News. "We believe Apple continues to grow its leading market share of the premium-tier smartphone market with double-digit growth of its installed base during the quarter and believe the iPhone installed base will exceed 635 million exiting 2017."