Business-friendly features might not be enough for consumers to fork over a minimum of $999 for the iPhone X.
Building a slide deck, pitch, or presentation? Here are the big takeaways:
- Consumers are purchasing more of Apple's cheaper iPhone models, avoiding the $999 iPhone X. -Cowen and Co., 2017
- Wait times for the iPhone X have dropped from several weeks to a few days since its November release. -Cowen and Co., 2017
With the holiday shopping season winding down, consumers still seem to prefer Apple's less expensive iPhone models, despite the company hustling to get the $999 iPhone X out in time for the holiday season.
Cowen and Co. analysts discovered the trend, suggesting that the iPhone X's business-friendly, high-tech features might not have been enough for shoppers to justify the costly upgrade.
Wait times of five to six weeks were common when the iPhone X was released in November. Those wait times have dropped to only a few days, Cowen analyst Karl Ackerman said in a note quoted by Bloomberg.
Ackerman said he expects Apple to sell only 1 million more iPhones, including all models, this holiday season compared to last year.
Instead of going for the iPhone X, consumers are purchasing the iPhone 8 and 8 Plus. These models are around $300 cheaper, but don't have the X's signature Face ID security system. Even less expensive, last year's iPhone 7 and 7 Plus are still available, and start at $549.
While consumers are not flocking to the X as expected, it may still be valuable to business and tech professionals. In addition to the heightened security through the Face ID facial recognition program, the phone can support more augmented reality (AR) than past models, and has a super retina display.
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