Wednesday, 17 October 2018 10:57

Goldman analyst warns iPhone sales seen slowing in China

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Goldman analyst warns iPhone sales seen slowing in China Pixabay

An analyst from investment firm Goldman Sachs has warned that Apple may face a fall in sales in China, due to slowing consumer demand in that country.

Rod Hall said in an investor note that while there was some improvement in the smartphone market in China during the second quarter, his forecast for third-quarter sales indicated a 15% decline year-on-year, CNBC reported.

He said while the latest iPhone models could act as a bulwark against the lessening demand, the overall decline in demand could hurt the company's bottom line.

Hall's prediction comes at about the same time as a mobile plan comparison website said that the higher prices for the new iPhone models could be stifling sales in Australia.

WhistleOut publisher Joseph Hanlon said that the data he had used to come to this conclusion was "share of voice" reports, "some of the market data we share with our telco partners".

Hall said that his estimate of iPhone sales for the December quarter of 80 million units included 13 million from China or 16% of the total. In December 2017, China accounted for 19% of the iPhone units, while the figure was 18% for 2016.

His projections said Apple's diluted earnings per share would be US$11.78 for the current fiscal year and US$13.77 for 2019.

Apple shares decreased in value by 1.6% on Monday following Hall's note. For the year, they are up 29%.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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