Ahead of the iPhone XR release later this week, a famed Apple analyst has claimed the device is outpacing the demand for the iPhone 8 during the last cycle.
According to a new investor note from well-known analyst Ming-Chi Kuo of TF Securities (via MacRumors), iPhone XR demand so far has been greater than what Apple saw with the iPhone 8 and 8 Plus last year, despite the device having launch day availability from Apple and just 1-2 week wait times from most carriers and other retailers.
“XR target customers are general users who are used to operating iOS,” writes Kuo. “Although the demands of XR is lower than XS after the initial pre-order/sale, the overall XR shipment momentum is more stable because of XR’s better replacement demand than that of iPhone 8 series last year.”
According to Kuo, while initial iPhone XS demand was higher than that of the iPhone XR, it has since experienced a significant drop-off. The iPhone XR, on the other hand, is set to encounter a significantly smaller drop which will ultimately lead to “more stable” sales in the long run. This is due to its lower price and the fact that it caters towards “regular” consumers who tend to have a tighter budget and don’t usually have any “urgent replacement demand.”
“We are not surprised that XR’s initial delivery times are shorter than those of the iPhone XS series after pre-order open given that XS and XR have different target customers. The former’s target customers are Apple fans, who snap up new models rapidly after the pre-order open,” Kuo wrote.
Kuo also reiterated his expectation that iPhone XR sales will also be higher in Q1 2019 than what the iPhone 8 saw in 2018.
iPhone XR pre-orders began last Friday in over 50 countries, while the first deliveries to customers and in-store availability will begin this Friday, October 26. The colourful smartphone starts at $1029 in Canada.
In related news, Apple’s senior vice president of worldwide marketing Phil Schiller recently sat down with Engadget to talk extensively about the new device.