While Korea's Telecoms Reported a Gloomy Picture for Samsung's Galaxy S9, Apple's iPhone X took a Hit Too
Last Thursday Patently Apple posted a report titled "While Samsung's Memory Chip Business is Booming, Reality is pointing to Real Problems for their Smartphone Business." Today we're learning that the situation is gloomy for Samsung's new Galaxy S9. The new Galaxy phone only sold 707,000 units in the first two months, which compared to almost 1 million unit sales of its predecessor Galaxy S8 last year. The phone sales were almost cut by half over the past two years from 476,000 units in March to 231,000 units in April.
One telecom source told the Korean website that "We don't see the slowing sales as a one-time event. This could become a long-term trend in the market. There are no immediate signs that the premium smartphone market will regain momentum any time soon."
With Apple reporting their financials tomorrow, the Korean news report couldn't help but time their bad news to Apple iPhone X as well.
The report noted that based on sales figures from the nation's top three telecom carriers SK Telecom, KT and LG Uplus, the iPhone X sold 475,000 units over the four months since its November launch, the lowest-ever figure for a flagship iPhone.
During the first two months of this period, the iPhone X, Apple's first OLED iPhone, sold 139,000 and 163,000 units before falling to 103,000 units in January and further to 70,000 units in February.
And yet, there's no mention of Apple's iPhone 8 and 8 Plus form the telecom carriers. Without a three-iPhone tally, the statements represent a well crafted hit job on Apple designed to create negativity when it's not warranted.
Though to be fair, Wall Street is playing the very same game by focusing on the iPhone X and not Apple's three flagship models debuting in Q4.
Of course one of these years Apple will miss their numbers in a significant way and thrill the naysayers who have been forecasting Apple's demise forever and a day and have been wrong.
Yet the positive news out of China from a Counterpoint report that we covered last week (here and here) would strongly suggest that the negative analysts and critics have Apple's last Quarter pegged wrong. If Apple did hit a home run in China, then Apple will report a decent quarter.
If on the other hand the Canalys report turns out to be more accurate, it'll be a bloody market after hours tomorrow afternoon to be sure. While it's futile to forecast tomorrow's iPhone numbers, I still suspect that the focus on the iPhone X alone by analysts will be proven the wrong view of Apple's iPhone sales overall for the reporting quarter.
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