Tech & Science iPhone X shipping delay may dampen Apple's holiday quarter

20:08  13 september  2017
20:08  13 september  2017 Source:   Reuters

Apple shares take a hit after iPhone X announcement

  Apple shares take a hit after iPhone X announcement Investors erred over the cost and delivery times of Apple's pinnacle phone. Apple stocks fell one percent early yesterday morning as investors reacted to the highly-anticipated launch of several new products including the iPhone 8, 8 Plus and the iPhone X.

The delay in shipping of the iPhone X could hurt Apple ' s seasonally-strong fiscal first quarter as orders get pushed to the following quarter . The 8 and 8 plus start at 9 and the iPhone X is Apple ' s most expensive phone. The high price of the iPhone X may not affect sales in the United

Apple Inc's highly anticipated iPhone X features a slew of innovations but delayed availability could hurt holiday - quarter sales. The delay in shipping of the iPhone X could hurt Apple ' s seasonally-strong fiscal first quarter as orders get pushed to the following quarter .

Apple's Tim Cook speaks about iPhone X during a product launch event in Cupertino© REUTERS/Stephen Lam Apple's Tim Cook speaks about iPhone X during a product launch event in Cupertino Apple Inc's highly anticipated iPhone X features a slew of innovations but delayed availability could hurt holiday-quarter sales.

The much-hyped event on Tuesday unveiled three new phones, an advanced watch that can take calls and a new Apple TV, but die-hard fans will not be able to get their hands on the iPhone X until November 3 - much later than iPhone 8's shipping date of September 22.

The delay in shipping of the iPhone X could hurt Apple's seasonally-strong fiscal first quarter as orders get pushed to the following quarter. The phone will start at $999 for the 64 GB version.

Apple introduces ‘Face ID’ for iPhone X

  Apple introduces ‘Face ID’ for iPhone X Apple today confirmed the iPhone X will feature facial recognition technology dependent upon a new “true depth camera system” including an infrared camera, flood illuminator, dot projector, and proximity sensor. The Face ID feature will work in low light situations and, according to Apple, there’s only a one in a million chance another face (unless you have an evil twin) can unlock your device.Every time you look at your iPhone X it detects your face. The feature will allow users to unlock devices simply by looking at them, essentially letting iPhone owners to use their face as a password.

Apple Inc' s highly anticipated iPhone X features a slew of innovations but delayed availability could hurt holiday - quarter sales.

The much-hyped event on Tuesday unveiled three new phones, an advanced watch that can take calls and a new Apple TV, but die-hard fans will not be able to get their hands on the iPhone X until Nov. 3 - much later than iPhone 8' s shipping date of Sept. 22. The delay in shipping of the iPhone X could.

Apple's shares were down 1 percent at $159.35 in early trading on Wednesday.

Although decked out with facial recognition technology, front and back glass, a 5.8-inch edge to edge display, wireless charging and animated emojis, some analysts said the delay tempers near-term sales and a few adjusted their estimates.

"Given one month less sales for the iPhone X during the December quarter, we have reduced our December quarter iPhone sales estimates from 84 million to 79 million units," Canaccord Genuity analysts wrote in a client note.

The company's iPhone 8 and 8 Plus did not veer far away from previous models, sporting modest new features such as a glass body, wireless charging, better camera and a faster processor. This could lead consumers to wait for the iPhone X.

The iPhone 8 and iPhone X will both have wireless charging

  The iPhone 8 and iPhone X will both have wireless charging The new iPhone 8 and iPhone X will both feature wireless charging, Apple announced on Tuesday. The new iPhone 8 and iPhone X will both feature wireless charging, Apple announced on Tuesday.

The delay in shipping of the iPhone X could hurt Apple ' s seasonally-strong fiscal first quarter as orders get pushed to the following quarter .

The delay in shipping of the iPhone X could hurt Apple ' s seasonally-strong fiscal first quarter as orders get pushed to the following quarter . The 8 and 8 plus start at 9 and the iPhone X is Apple ' s most expensive phone. The high price of the iPhone X may not affect sales in the United

"None of the features in the version 8 product will likely accelerate demand," Mizuho analysts wrote in a note.

Apple typically launches new iPhones in September and a big jump in sales usually follows in the holiday quarter, as users tend to upgrade devices when new phones sport significant design changes.

Apple last saw a significant uptick in sales with the introduction of iPhone 6 in 2015.

While the delay of the iPhone X could hurt near-term sales, analysts still think Apple's loyal and hungry fans would lap up the new phone, boosting sales for fiscal 2018.

Brokerage UBS said it continues to estimate 246 million phones in fiscal 2018 – up 15 percent.

Apple, which is trying to energise sales in China, could hit a wall selling the pricey new phones there. The 8 and 8 plus start at $699 and the iPhone X is Apple's most expensive phone.

The high price of the iPhone X may not affect sales in the United States, where telecom carriers subsidise phone ownership, but it might dent sales in China and India.

But even with the lack of major surprises, Apple's phones are still expected to sell well.

"It will still sell in enormous volumes because Apple has repeatedly demonstrated its ability to persuade consumers to shift their overall spending to place a greater share of their disposable income towards a smartphone purchase," IHS Markit analyst wrote in a note.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Bernard Orr and Saumyadeb Chakrabarty)

What you need to know about Apple's new iPhone 8 .
While there's a whole lot of excitement surrounding Apple's new iPhone X, the tech giant has also unveiled the iPhone 8 and 8 Plus at today's event. It's here: What you need to know about Apple's new iPhone X that unlocks with Face ID The phones have a glass front and back, and will feature wireless charging, Apple confirmed today, using the Qi standard. The new phone will be 64GB, with a 256GB version available too. The price is $699, while the iPhone 8 Plus is out for $799. People can preorder from 15 September and they'll be available from 22 September.

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