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Wednesday, 13 September 2017 12:09

Iphone X shipping delay may dampen Apple's holiday quarter

Written by  Reuters

(Reuters) - Apple Inc’s highly anticipated iPhone X features a slew of innovations but delayed availability could hurt holiday-quarter sales.

The much-hyped event on Tuesday unveiled three new phones, an advanced watch that can take calls and a new Apple TV, but die-hard fans will not be able to get their hands on the iPhone X until Nov.

3 - much later than iPhone 8’s shipping date of Sept. 22.

The delay in shipping of the iPhone X could hurt Apple’s seasonally-strong fiscal first quarter as orders get pushed to the following quarter. The phone will start at $999 for the 64 GB version.

Apple’s shares were down 1 percent at $159.35 in early trading on Wednesday.

Although decked out with facial recognition technology, front and back glass, a 5.8-inch edge to edge display, wireless charging and animated emojis, some analysts said the delay tempers near-term sales and a few adjusted their estimates.

“Given one month less sales for the iPhone X during the December quarter, we have reduced our December quarter iPhone sales estimates from 84 million to 79 million units,” Canaccord Genuity analysts wrote in a client note.

The company’s iPhone 8 and 8 Plus did not veer far away from previous models, sporting modest new features such as a glass body, wireless charging, better camera and a faster processor.

Read more at Reuters

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