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Best Buy points at the iPhone X for a whopping $100 million revenue loss

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Best Buy points at the iPhone X for a whopping $100 million revenue loss

Apple's later-than-usual iPhone X launch may have cost Best Buy $100 million in lost revenue, suggested the electronics retailer in all but a name. During its quarterly results press release statement for investors, Best Buy mentioned that it would have beat the Wall Street consensus estimate of $9.36 billion, if it wasn't that "a major phone launch did not happen until November." 

Instead, Best Buy hauled in $9.32 billion, also marred by hurricane season, and other natural disasters which shaved a few cents per share off its results. Apple announced the iPhone X on September 12th, but didn't launch it until the beginning of this month, and is still experiencing weeks of lead times for ordering from its website. Still, the $100 million figure that Best Buy cites may give anyone a pause, and that's just one retailer for a short period of time. No wonder Apple is predicting record quarters going forward.

source: Best Buy

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Daniel Petrov Senior News Writer
Daniel, a devoted tech writer at PhoneArena since 2010, has been engrossed in mobile technology since the Windows Mobile era. His expertise spans mobile hardware, software, and carrier networks, and he's keenly interested in the future of digital health, car connectivity, and 5G. Beyond his professional pursuits, Daniel finds balance in travel, reading, and exploring new tech innovations, while contemplating the ethical and privacy implications of our digital future.

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