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Apple Will Kill Off iPhone X This Year: Analyst

By April 22, 2018 No Comments

Apple Will Kill Off iPhone X This Year: Analyst

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Apple Will Kill Off iPhone X This Year: Analyst shutterstock 198133157

With speculation surging that Apple Inc. (AAPL) will roll out new iPhone X models in September, one analyst is taking a contrarian view, arguing the Cupertino, California-based company could discontinue its priciest smartphone.

CNBC, citing a research note Mirabaud Securities issued this week, reported analyst Neil Campling saying there is an oversupply of chips made by Taiwan Semiconductor Manufacturing that go into the iPhone X. The chip foundry lowered its full-year revenue forecast to the low end of its previous guidance resulting in a sell-off in the stock and prompting Campling to argue the iPhone X will be killed off. The analyst said in the research note that the excess chip supply at TSMC has never been higher. The firm has tracked the inventory at the chip foundry for more than a decade, noted CNBC. (See also: Apple Needs to Keep Upping iPhone Prices: Analysts.)

“With the declines in iPhone X orders and the inventory issue at TSMC at record highs, which basically reflect a need to burn off inventory. Why? Because the iPhone X is dead,” Campling wrote in his note, reported CNBC. The analyst said the excess inventory is because Apple isn’t buying components to go into a future iPhone X, which he said suggests the high-end smartphone will be discontinued in 2018. In a subsequent phone interview with CNBC he said the major reason the smartphone hasn’t taken off with the masses is the price, which starts at $999. “Consumers are turning their backs on high-priced smartphones,” he said, noting that Apple will sell its current inventory of iPhone X but not make new ones. (See also: Apple May Have Abandoned Plans for Gold iPhone X.)

X, More or Less

In late March, Goldman Sachs predicted the company will sell fewer iPhone Xs than expected in the first half of this year. The Wall Street firm now expects it to ship 53 million units in the March-ending quarter and 40.3 million units for the June-ending quarter. It has previously forecast the company to ship 54.7 million and 43.5 million, respectively. Apple weighs in with fiscal second-quarter earnings on May 1.

At the same time that Campling is predicting the demise of the iPhone X, AppleInsider, citing Taiwan’s Economic Daily News, reported that Samsung Electronics has started making the bendable OLED screens for a 5.8-inch iPhone X2 and a 6.5-inch iPhone X Plus. Both devices are expected to be launched this fall. Apple typically rolls out new iPhones in September. According to the report, production should kick off in May with capacity doubling in June. Samsung is currently the exclusive maker of OLED screens for the iPhone X given that it is the only company with enough capacity to meet the demands of Apple. AppleInsider noted that the tech company is in discussions with other suppliers, but none will be able to contribute in a meaningful manner this year.

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April 22, 2018 at 03:46AM

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