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Apple’s iPhone 16 pre-sale numbers fall flat: Apple’s upgrade cycles have not dazzled consumers since the iPhone 12, writes CNN, but the iPhone 16 was supposed to change that. Despite the new AI features, consumers don’t seem convinced that it's worth the upgrade.
(Tap or click the headline above to read this story with all of the links to external sources.)
The numbers: Analysts estimate first-weekend pre-sales of the iPhone 16 to be around 37 mn units, 12% lower than last year’s iPhone 15. Sales of the iPhone 16 Pro and Pro Max have dropped by 27% and 16%, a steep y-o-y decline compared to the iPhone 15’s debut.
The problem might be that the standard models are just too good. “The standard devices [got] a really great upgrade in terms of their cameras and internal processors,” CFRA Research analyst Angelo Zino says. Translation? Why splurge on the Pro when the regular iPhone 16 is almost just as good? Consumers’ wallets may be grateful, but the same can’t be said for Apple’s bottom line, which relies on Pro model sales to bump up its average sales price and total revenue.
Is this due to the delay of Apple Intelligence? Or its existence altogether? Despite the company’s AI-heavy event last month, Apple revealed that the long-awaited Apple Intelligence — a cornerstone of their marketing for the iPhone 16 models — will get a gradual rollout. Experts and investors alike were concerned this might affect sales at the time. Another possible factor might be marketing AI altogether. Recent studies have shown that mentioning AI in marketing campaigns has been hurting sales due to mistrustful consumer sentiment towards the technology.
Tough competition: Chinese brands offer similar features at a much lower price, appealing more to consumers tightening their belts during economic hardships.
But some experts are hopeful. Wedbush analyst Dan Ives believes the real sales are going to happen once the holiday season comes around, and others predict that consumers are only waiting for Apple Intelligence to fully release before they make the purchase.
