iPhone X is predicted to earn $30 billion from people spending on Holidays
As the Apple’s flagship smartphone, iPhone X will hit the retail stores on 4th of November it is likely that people will spend $30 billion cash on their holidays on iPhone X, according to an analyst Katy Huberty.
According to Hubert, sales of other brands even of those dealing in clothing are likely to be impacted this holiday season as most people are planning to visit Apple’s retail stores. The analyst is predicting a “supercycle” of customers upgrading to the iPhone X due to its new form factor, Face recognition ID, super retina display and augmented reality features.
The increased sales of iPhone X are expected due to some major design and feature changes made in this smartphone as most people were still relying on their iPhone 6 which was launched back in 2014. So, this long duration will enforce people to buy the new iPhone X irrespective of its sticker price of $999.
Huberty believes that the cost of the iPhone X will bother people quite enough to stop buying other goods, as he states,
“I just bought a $1,000 phone last month, I don’t really need another pair of jeans.”
iPhone X could be the ultimate source of boosting sales of iPhone 8 and iPhone 8 plus as the people visiting Apple’s store might rethink of buying other devices. In total, the three new iPhone models will take about $52.6 billion of spending away from other categories, Huberty predicts.
As iPhone X has already been facing production issues and even ran out of stock quickly when its first pre-orders started last week. Apple has to think out of the box to meet the high demand of iPhone X in this holiday season which will hit the retail stores in a few days.