Apple sees only 30,000 iPhone sales in China since debut
Apple Inc, which is expected to ship 11 million iPhones in the quarter, has sold 30,000 units in China since its debut on October 30, according to an analyst note issued on Friday.
According to Brian Marshall, analyst at Broadpoint AmTech, the China iPhone ramp will prove to be a catalysts for Apple's continuous growth.
However, Lazard Capital Markets analyst Daniel Amir isn't optimistic about Apple's prospects in China going forward given the phone's high price tag, the note said.
In October, iPhone shipment to China reached 700K units even though sell-through has been much lower largely due to the high price point. Apple is likely to continue diverting 10 percent of the iPhone build to the Chinese market, as the opportunity for China could be significant to future growth.
Overall, in our opinion, the high price point remains a barrier for further iPhone adoption and the current run rate is below expectations, Amir said.
Despite the relatively low performance in China, iPhone sales in the UK turned better than expected. Orange UK on Tuesday started selling iPhone in the country with the first-day sales of 30,000 units.
According to Marshall, the global iPhone ramp is in early innings with the iPhone now available in 80 more countries. Though Apple hasn't seen significant in China, it may boost sales by ending its exclusivity.
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