The iPhone 12 and 12 Pro became available for preorder on Friday, October 16th. In a research note on Sunday, TF International Securities analyst Ming Chi-Kuo shared what he’s seen with the volume of iPhone 12 and iPhone 12 Pro pre-orders during the first weekend of pre-orders.
Kuo estimates Apple sold from 7 million to 9 million combined iPhone 12 and 12 Pro pre-orders during the launch weekend, and he says those numbers will only rise when iPhone 12 Pro Max and iPhone 12 mini sales kickoff in November.
Kuo had previously reported that Apple’s estimated shipment allocation for the new iPhone model put the iPhone 12 at the top of the pile with 40 to 50% of inventory allocation. However, the apparent strong surge in iPhone 12 Pro pre-orders has led him to revise that split.
“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 US and Europe.”
Kuo now sees the iPhone 12 and iPhone 12 Pro Max as both having approximately a 30 to 35% share of new iPhone shipments this quarter. Kuo also downgraded his sales expectations for the iPhone 12 mini, saying he now estimates that the smaller iPhone 12 model will be responsible for only 10 to 15% of sales. (That estimate is down from his previous 20 to 25% estimate.) Kuo cites weak demand for the smaller device in the Chinese market.
The iPhone 12 mini and iPhone 12 Max will be available for pre-order beginning November 6th.
