That could mean that shipment numbers could total just five to six million units per month in November and December, well below the estimated demand for 50 million units of the other new release, the iPhone X, when preorders begin on October 27.
Described as overpriced and lacking new features retailers and carriers in Australia who were banking on increased demand for the new iPhone 8, have now cut back their second and third quarter revenue forecasts.
Despite the reported low sales of the iPhone 8 and 8 Plus and with the upcoming release of the iPhone X, the latest iPhone release had been meeting analysts' expectations. It's the first time in history the company has ever reduced its orders by so much so soon after an iPhone launch.More news: Nifty scales record level, Sensex at 2-month high
Much of this can be attributed to the fact the handset is very similar in appearance to the iPhone 7, which sells for less.
"iPhone 8 demand has been naturally soft out of the gates with the main event being the iPhone X launch in early November".
Across town arch rival Samsung is lapping up sales of their Galaxy 8 and Note 8 which is significantly superior to the Apple iPhone offering. The 5.8-inch OLED display dwarfs the 4.7-inch screen on the iPhone 8 and thank's to it's near bezel-less design, the iPhone X makes the 5.7-inch on the iPhone 8 Plus look cramped. Apple analyst Ming-Chi Kuo has stated that due to problems with the mass production of the "Truedepth" camera sensor for the Face ID facial recognition system, the iPhone X will not go into full production until next year. "(But) this is the early innings of what we believe is the biggest iPhone product cycle with X leading the way".More news: Joe Jonas engaged to Sophie Turner
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, August 1st.
Vinh wrote in his research report that "many respondents indicated that a meaningful portion of customers is buying iPhone 7 in lieu of the new iPhone 8, given the lack of significant enhancements in the new phone".
Rogers Communications chief Joe Natale said anticipation was high for the iPhone X but also noted that inventory would be limited and that - at Apple's starting price of $999 - it was an expensive device.More news: Amazon Introduces Logins For Teen Shoppers