Analysts covering Apple are expecting the company report a record-breaking sales of iPhones during its upcoming financial results.
UBS analyst Steven Milunovich recently estimated that the tech giant 69.3 million iPhones in its December quarter citing the reason that China probably contributed 35% of all iPhone sales during the period.
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross Read More
A report from Forbes noted new signs showing a strong demand for the iPhone 6 in Hong Kong as consumers have been waiting for months to purchase the device directly from Apple.
At present, it is still impossible to buy an iPhone 6 in Hong Kong. Take note that it has been four months since Apple released that device in the market. The report indicated that the only way for consumers to buy an iPhone 6 in Hong Kong is to reserve through the Apple Store.
iPhone 6 reservation system
A staff at Apple Store in Hong Kong explained that consumers need to go through the reservation system to buy an iPhone. Normally, it takes two months before consumers could buy an iPhone 6 in the country.
The iPhone 6 reservation system was implemented to prevent resellers from purchasing devices in Hong Kong and bringing them to mainland China where they can resell the device for a much higher price. A consumer needs to have an Apple ID and a Hong Kong-based mobile phone number to reserve an iPhone 6. Consumers also need to present a photo identification to claim his or her reservation.
On Monday, a man with 94 iPhones strapped on his body was arrested crossing the border into China. There also a number of resellers routinely staying at the sidewalk outside the Apple retail store at Causeway Bay in Hong Kong. There is no doubt that there is a very strong demand for the iPhone 6 in the territory.
iPhone 6 is becoming more popular in India
Separately, Appleinsider reported that the iPhone 6 is becoming more popular in India and estimated that Apple sold more than 500,000 units in the country during the December quarter.
The site noted that Apple’s iPhone sales in India account for only a small portion of its sales worldwide, but the sales improvement in the country is significant. Take note that India still one of the poorest countries with a nominal per capita GDP of $1,509 compared with China’s $6,959.