Analyst: Apple’s iPhone 5C Sales Lower Than Expected
Well-connected KGI Securities analyst Ming-Chi Kuo has lowered his iPhone 5C sales estimate for the September quarter, reports Business Insider. Kuo cut his original estimate by 33 percent and is now forecasting sales of 11.4 million iPhone 5C units for Apple’s (NASDAQ:AAPL) fourth quarter of fiscal year 2013.
The analyst also lowered his iPhone 5C sales estimate for the December quarter. Kuo predicts that Apple will only sell 10.4 million units of the iPhone 5C in the company’s first quarter of fiscal year 2014. However, according to Business Insider, Kuo is unclear if this will impact his overall iPhone unit estimate since there still a strong demand for the iPhone 5S and iPhone 4S.
It should be noted that Kuo has a fairly good track record when it comes to Apple analysis. Although Apple’s iPhone launch weekend sales beat his prediction by 1 million units, his estimate was closer than many other analysts’ predictions of around 6 million units.