Apple iPhone Seeing Steady May Sales as Canaccord Projects 3 New Models in September

Apple’s (AAPL) iPhone has seen steady sales and May, maintaining its leading position among top US networks and staying resilient even amid launches of new smartphones from rival Samsung, Canaccord Genuity said in a note on Wednesday.

“We believe Apple continues to grow its leading market share of the premium-tier smartphone market with double-digit growth of its installed base and believe the iPhone installed base exceeds 650M,” said technology analyst Michael Walkley.

Based on Canaccord’s own survey, Walkley said overall sales “remained resilient with likely over 50% share” at the main US mobile networks. Apple’s “impressive” installed based should foster a strong replacement sales, he said.

Concerns about iPhone sales weighed on Apple’s shares earlier this year, although worries were alleviated with the technology giant’s fiscal second quarter results earlier this month, showing 52.2 million iPhones were sold in the quarter, up from 50.7 million in the year ago quarter but below expectations for 53 million units.

Apple could launch three new iPhones in September, possibly with lower prices, and that segmentation could lead to unit growth in 2019, Walkley said. While Samsung’s share of the Android market grew with the Galaxy S9 and S9 plus, iPhone users are staying loyal to their brand.

“We believe consumers in the iPhone ecosystem are very sticky and despite new Android smartphones and features, consumers remain committed to the Apple ecosystem,” Walkley said.

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