Long queues outside Apple stores ahead of iPhone X launch

Laverne Mann
November 3, 2017

But retailers and analysts had reporter slower than usual sales for a new iPhone model, which many attributed to the fact that Apple has a new, more premium model, of the iPhone set to hit stores Friday.

The company also showed off other new products in the back half of this year, amid back-to-school shopping season: the Apple Watch Series 3 with a cellular connection, its thinnest and lightest MacBook yet, and the Apple TV 4K. When the dust settled, Apple posted revenue of $52.6 billion.

"We couldn't be more excited as we begin to deliver our vision for the future with this stunning device", said Apple CEO Tim Cook about the iPhone X.

It's not hard to see why the iPhone X is in such high demand; it reinvents the company's vision for a smartphone, replacing traditional bezels with an edge-to-edge OLED screen and the antiquated home button with gestures.

GBH Insights analyst Daniel Ives said strong worldwide demand for the new smartphone, along with "complex production issues", meant the iPhone X would remain in short supply until April or May next year.

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With the exception of pre-orders, most major telcos will not be selling the iPhone X in outer suburban or regional outlets. But it forecast profit next quarter, which is traditionally its largest for sales due to the holidays, for somewhere between $84 billion and $87 billion.

Apple reported 34% increase gains in revenue for its services category, which rose to $8.5 billion for Q4.

"Stores will have iPhone X available for walk-in customers, who are encouraged to arrive early", Apple warned in a statement.

"What Apple needs to do is manage consumer expectations so they don't get frustrated having to wait for so long for a new phone", Ives said. They are expecting the company to sell 242 million iPhones in the fiscal year ending in September 2018 - the most in the product's history.

Apple has just published its financial results for Q4 2017. Apple shares have risen about 50 percent over the past year, with a market capitalization of over $850 billion as of Thursday afternoon.

Other reports by MaliBehiribAe

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