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TF Securities analyst Ming-Chi Kuo estimates that Apple recorded between 7 million and 9 million combined pre-orders for iPhone 12 and 12 Pro during launch weekend, and those numbers will only increase with the start of sales. of iPhone 12 Pro Max and mini in November.
In a note to investors on Monday, Kuo said that the iPhone 12 and iPhone 12 Pro alone nearly matched the performance of the entire iPhone 11 lineup in 2019. Sales of the two new models reached an estimated 1, 7 million to 2 million units in 24 hours, more than 500,000 to 800,000 iPhone 11 units registered last year. It is estimated that Apple sold between 10 million and 12 million iPhone 11 series devices during launch weekend in 2019.
“The pre-order of the iPhone 12 Pro exceeded our expectations due to the initial preference of Apple fans for high-end models, strong demand in the Chinese market and the upcoming peak season in the United States and Europe,” Kuo writes.
Kuo doesn’t expect the upcoming iPhone 12 mini and iPhone 12 Pro Max to match the iPhone 12 and 12 Pro, but pre-orders for the remaining two 2020 models could drive overall 12-series pre-order sales toward heights of ” supercycle “.
The analyst is modeling the iPhone 12 and 12 Pro so that they both account for 30% to 35% of iPhone 12 series shipments in the fourth quarter. The oversized iPhone 12 mini and iPhone 12 Pro Max are estimated to hit 10-15% and 15-20%, respectively. Kuo previously pinned the iPhone 12 mini to get a larger share of shipments, but the lack of dual SIM support and the phone’s small screen are reducing demand in China.
Announced at a special event last week, the iPhone 12 lineup features a host of updates including a revamped design, a powerful A14 Bionic system-on-chip, and 5G support. It is the latest feature that is expected to increase sales in 2021.
Apple began pre-orders for the iPhone 12 last Friday ahead of a broad launch scheduled for October 23. Pre-orders for the tiny iPhone 12 mini and high-end iPhone 12 Pro Max will begin on November 6 and reach customers a week later.
