Apple's customers are spurning the iPhone X in favor of models that offer better value for money, a report says.
(CCM) — Apple fans are turning their backs on the iPhone X in droves and choosing instead to purchase lower cost iPhone models, according to a Bloomberg report.
The report cites research from Cowen and Co. which suggests that potential buyers do not consider there are enough new features and technology in the iPhone X to justify its $999 price tag.
The iPhone 8 and 8 Plus, released six weeks before the iPhone X, are about $300 cheaper, but they lack the iPhone X's OLED screen and facial recognition system.
As evidence it points out that order wait times for the flagship iPhone have fallen to a few days from the five or six weeks that were typical when the device was launched in November 2017. "Some investors may conclude this relates to better sales momentum for the X, but we are increasingly concerned that demand has been below initial expectations as users appear to have gravitated toward the previous iPhone models," Karl Ackerman, a Cowen analyst, said in the research note.
He expects Apple fans to purchase about 56 million iPhones of all kinds in the first quarter of 2018, which is well below the 61 million phones sold in the same period of 2015.
Image: © Apple.