The first weekend of iPhone 12 and iPhone 12 Pro sales is complete and the latest information points towards higher than expected demand ahead of their release later this week.
Apple sold 7-9 million iPhone 12/Pro units over the weekend
Ming-Chi Kuo of TF Securities has revealed in his latest note to investors (via AppleInsider) that initial demand for the iPhone 12 and iPhone 12 Pro almost matched launch weekend sales for the entire iPhone 11 series in 2019. He estimates that Apple sold between 1.7 million and 2 million units in the first 24 hours, up from 500,000 to 800,000 iPhone 11 units. Over the full weekend, the estimates indicate Apple sold between 7 million and 9 million combined iPhone 12 & 12 Pro units.
That result stacks up well against the entire iPhone 11 series, which registered between 10 million and 12 million sales on launch weekend, when you consider the fact Apple only made two models available on Friday.
Do note, however, that launch weekend demand for the mini and Pro Max models is unlikely to exceed the demand seen for the 6.1-inch iPhone 12 and iPhone 12 Pro devices.
The iPhone 12 Pro is more popular than expected
A breakdown of the initial sales numbers by iPhone 12 model wasn’t provided in the report, but Ming-Chi Kuo says the iPhone 12 Pro is the main reason for the higher-than-expected demand.
Demand for the premium flagship beat all expectations because of strong demand in the Chinese market and nearing peak season demand for smartphones in the US and Europe. The preference for high-end models from ‘core Apple fans’ was a factor too.
The iPhone 12 Pro performed so well this past weekend that Kuo has now modified his sales breakdown predictions for the quarter. Kuo believes the iPhone 12 and iPhone 12 Pro will now account for 30-35% of sales each.
The mini-branded model was previously expected to be more popular, but demand is weak in Apple’s most important international market – China – due to its small display and lack of dual-SIM support.
Could the iPhone 12 series lead to a supercycle?
Last week, Taiwanese carriers sold their entire iPhone 12 and iPhone 12 Pro pre-order quote in under 45 minutes. Those same carriers now believe the iPhone 12 series could be the most popular iPhone lineup since the iPhone 6 in 2014.
Such a comparison is certainly nothing to brush off. The iPhone 6 and iPhone 6 Plus led to the most recent ‘iPhone supercycle’ which boosted shipment volumes by 46% and revenue by 57% in the first quarter of sales.
Similar supercycles were previously predicted ahead of the iPhone 8/X and iPhone XS/XR launches in 2017 and 2018, although the ideas were quickly brushed off ahead of launch. This is the first time that demand suggests it could be possible.
Backing all of this up is the fact that Ming-Chi Kuo noted in his note to investors that demand for the iPhone 12 mini and iPhone 12 Pro Max next month could push sales to ‘supercycle’ heights.
