Citi Analyst Cuts iPhone XS Max Sales Estimate By Almost Half for Q1 2019

Gold iPhone XS Max Unboxing Photos

Following other analysts, Citi Research analyst William Yang has slashed the first-quarter production estimates of Apple’s 2019 iPhones due to weakening global smartphone sales. The analyst now believes that Apple will ship 45 million iPhones in Q1 2019, down by 5 million.

He notes that the iPhone XS Max will be the one to see its sales fall considerably, with its shipment expected to decline by as much as 48 percent in Q1 2019. Yang is cutting the forecast for the new iPhones because they are “entering a destocking phase, which does not bode well for the supply chain.”

Almost all reputed analyst have slashed their iPhone sales forecast by 5-10 million due to a fall in demand. They now expect Apple to sell anywhere between 38-45 million iPhone units in Q1 2019. There have been reports of Apple asking its suppliers to cut down on iPhone XS and iPhone XR orders due to weak demand. The weak iPhone sales have even forced Apple to offer attractive trade-in discounts in a bid to attract more customers.

The iPhone XR was expected to arrest the decline of iPhone sales but it has failed to attract consumers, with Kuo noting the device not doing well as per expectations. Many analysts had expected the 2018 iPhone series would do well in terms of sales thanks to the introduction of the bigger iPhone XS Max and a cheaper iPhone XR.

[Via Reuters]

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