JP Morgan is predicting a weaker year than initially expected for the iPhone in 2018 with shipment forecasts easing off.
“Taking into account our new expectations for smartphone demand, we take down our March quarter, June quarter and full year estimates,” analyst Bill Peterson wrote in a note picked up by CNBC.
The bank’s supply chain team in Asia expects springtime iPhone production to settle around 55 million units while summertime production is to fall to 45 million — both estimates have been revised down by 5 million units each. The company has also taken down annual revenue forecasts for Apple parts suppliers Knowles and Skyworks Solutions.
The same bank is forecasting iPhone X shipments to fall by half from the holiday season. Other analysts expect the iPhone X to drop out of the product lineup before new replacement models launch in September. Funnily enough, no edits have been made to this holiday season’s estimates.
Apple mobile chip supplier TSMC is also forecasting a down year for “premium” smartphones.