Kuo says iPhone 12 Pro demand higher than expected
Respected industry analyst Ming-Chi Kuo has revised his initial sales estimates for the iPhone 12 and iPhone 12 Pro, claiming that launch weekend has seen higher than expected demand for the more expensive iPhone 12 Pro.
In a research note shared with investors today, Kuo suggests Apple saw an estimated 1.7 million to 2 million pre-orders of the two new models in the first 24 hours of them being available online, up from 500,000 to 800,000 iPhone 11 units in the same period recorded last year.
Kuo goes on to suggest Apple received between 7 million and 9 million combined iPhone 12 and 12 Pro pre-orders over launch weekend, with the iPhone 12 Pro seeing strong sales thanks to “Apple core fans’ initial preference for high-end models,”
The iPhone 12 Pro pre-order beat our expectation because of Apple core fans’ initial preference for high-end models, the strong demand in the Chinese market, and the coming peak season demand in the U.S. and Europe,
The analyst has now revised his expectations for the iPhone 12 mini, suggesting the device will account for only 10-15% of sales (down from 20-25%).