Maybe Apple fanboys are just waiting for the iPhone X?
The world’s biggest tech company hasn’t enjoyed a banner month of sales since rolling out the new iPhone 8, with the device being outsold by its predecessor, the iPhone 7.
What’s holding up the iPhone 8? It’s too close to its older brother, said KeyBanc analyst John Vinh, after analyzing exit surveys from mobile carriers.
“Many respondents indicated that a meaningful portion of customers are buying iPhone 7 in lieu of the new iPhone 8, given the lack of significant enhancements in the new phone,” said Vinh in a note to clients.
The iPhone 8 added a faster processor and has wireless charging, but runs for about $150 more than last year’s model; like all previous iPhones, the 8 still sports the classic “home button.” With the $999 iPhone X on its way in November, equipped with nifty features like facial recognition security software, Vinh added customers are happy to skip past the 8.
“Feedback from stores indicate customers are waiting to purchase the iPhone X or to compare the iPhone X before buying the iPhone 8,” said Vinh.
Data from carriers seems to back up this wait-and-see approach from consumers. Mobile giant AT&T said last week it’d seen 900,000 less smartphone upgrades this year than in the third quarter of 2016.
Despite the tepid response to iPhone 8, shares of Apple have hovered near $160 for the last month. The iPhone X is set to launch on Nov. 3.