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Report: Apple to cut iPhone prices further, make big acquisition for streaming service

Posted: , by Joshua Swingle Joshua Swingle

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Report: Apple to cut iPhone prices further, make big acquisition for streaming service

In an attempt to boost the iPhone’s popularity in China, Apple recently implemented a number of price cuts. But in a report (via 9To5Mac) published earlier today, Wedbush Securities has claimed that this is only the beginning.

As things stand, the firm in question believes Apple faces a “code red” situation in China. Contrary to what the market reaction may lead many to believe, though, it’s not down to lost iPhone revenue. Instead, Wedbush attributes it to Apple’s current risk of losing existing customers in China.

As pointed out by the report, the Cupertino giant’s future relies heavily on its existing install base. After all, through these, the company can continue to grow its increasingly-important Services business. These consumers are also more likely to purchase other Apple products. Thus, as a direct result of needing to maintain its install base numbers, Wedbush now believes “more significant price cuts” will be announced for the iPhone XR over the “coming months.”

Looking at Apple’s all-important services business, the report also predicts some major “content acquisitions” in the future that’ll be used for the company’s upcoming Netflix rival and should help drive growth. According to the report, Lionsgate and Sony Pictures stand as likely acquisitions, while A24, who is already partnered with Apple, is also a possibility. CBS and MGM Studios are “medium probability” purchases.

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