'Purchase intent' falls for the new iPhones: Details here
Just last week, Apple revealed that iPhone Xr has been its best-selling device since the day it started hitting the shelves. The remark didn't include absolute numbers but was aimed at alleviating investor concerns regarding the sale of new iPhones. Now, another concerning report has come to light, one showing that the 'purchase intent' for the new iPhones has gone down. Here's what it means.
Purchase Intent: Willingness to buy new iPhones
After the release of iPhone Xr, Xs, and Xs Max, UBS analysts conducted the 'purchase intent' survey to see how many people are actually planning to buy the new iPhones in next 12 months. They interviewed as many as 6,900 people in 5 countries and found that the 'purchase intent' for the devices was "down across the board", specifically in the US and China.
Intention to buy down to iPhone 6s levels
Citing the survey, UBS concluded that only 18% Americans intended to buy the new iPhones, down from 21% last year. This, as CNBC notes, matches the purchase intent level for iPhone 6s and highlights that the new iPhones may witness a weaker demand going forward. Notably, the results for China were even worse as the purchase intent there declined by as much as 6%.
Statement from UBS analyst Timothy Arcuri
"Investor expectations for this iPhone cycle are muted. Consensus estimate for iPhones in 2019 is for roughly 2 percent unit decline and about 1 percent revenue growth," UBS analyst Timothy Arcuri said, citing the projected fall in demand.
Meanwhile, how much do these new iPhones cost in India
In India, the iPhone Xs and Xs Max start at Rs. 99,900 and Rs. 1,09,000 respectively and are available in three color options (Gold, Silver, and Space Grey). The iPhone Xr, on the other hand, starts at a slightly lower price point at Rs. 76,900 and comes in as many as six different color variants. This includes Product Red, Coral, Yellow, Black, Blue, White.