Apple sold more iPhone 12 models in the first 24 hours of preorders last week than iPhone 11 models sold in the same period last year, according to top Apple analyst Ming-Chi Kuo of TF International securities.
In a research note Monday, Kuo reported that Apple sold up to 2 million iPhone 12 units in the first 24 hours, up from 800,000 units of the iPhone 11. But for the full weekend of preorders, which ended Sunday, Kuo predicted Apple would sell up to 9 million iPhone 12 units, down from the iPhone 11's 12 million for the same period. The iPhone 12 Pro sold better than expected thanks to strong demand in China, Kuo said.
Kuo has an excellent track record predicting future Apple products and sales, so his reports carry extra weight, especially since Apple stopped reporting unit sales for the iPhone two years ago. Apple stopped reporting first-weekend sales of new iPhone models several years ago.
Many Apple analysts are predicting a "super cycle" of iPhone sales for Apple's fiscal 2021, which began in October, thanks to a larger-than-normal customer base due for an upgrade and the addition of 5G cellular connections.
Here are some more highlights from Kuo's report:
Apple has a broad lineup of iPhone models this year at a wide range of price points, starting with the $399 iPhone SE and ending with the $1,099 iPhone 12 Pro Max. U.S. carriers like AT&T and Verizon are also offering various discounts on the new iPhones as they try to attract more customers to their 5G networks.