The Apple iPhone X is "dead" says brokerage firm analyst
Yesterday, we told you that Apple chip supplier TSMC lowered its revenue forecast for the year, citing softer than expected sales of high-end smartphones. With that in mind, Mirabaud Securities analyst Neil Campling says that there is an oversupply of chips at TSMC which "has never been higher." And he should know; Mirabaud has tracked TSMC's inventory for over a decade.
With TSMC swimming in chips, and talk from suppliers about slowing shipments to Apple, Campling told clients in a note that "the iPhone X is dead." He comes to that conclusion from the record inventory at TSMC, which the analyst attributes to Apple's decision to stop buying the parts. And Campling says that the reason why Apple is no longer purchasing the chips is because the model will be killed off this year.
Last December, there was speculation that Apple had cut orders for the tenth anniversary model by 40%. Campling believes that the problem with the iPhone X is the price. The device starts at $999 for the 64GB model, and the analyst states that consumers are not buying high-priced phones.
Apple is expected to unveil its 2018 models in September. The current rumor has the firm introducing three new iPhone handsets for this year. The low-end Apple iPhone 9 could be priced at $550, according to KGI Securities Ming-Chi Kuo, widely acknowledged as the top Apple analyst in the business. This model is expected to feature a 6.1-inch LCD display with an edge-to-edge screen, the TrueDepth Camera, Face ID, and one single camera on back. It is expected to lack 3D Touch.
The remaining two models will reportedly be iPhone X sequels with OLED panels and Face ID. Kuo says that the Apple iPhone Xs will feature a 5.8-inch display, and the Apple iPhone Xs Plus will carry a 6.5-inch screen that apparently will be produced by Samsung.