Apple iPhone X could cannibalise iPhone 8 orders, says top analyst

Key highlights:

• A top analyst with Taiwanese business group KGI Securities has warned that iPhone X will cannibalise iPhone 8 orders
• Ming-Chi Kuo, the most famous analyst with KGI Securities when it comes to Apple, said it is very likely that iPhone X demand will cannibalise iPhone 8 pre-orders
• Ming, however, said the new Apple Watch Series 3's (GPS + Cellular version) could be a runaway hit

As Apple gets ready to ship iPhone 8 and 8 Plus before it opens iPhone X for pre-orders, a top analyst with Taiwanese business group KGI Securities has warned that iPhone X will cannibalise iPhone 8 orders.

According to Ming-Chi Kuo, the most famous analyst with KGI Securities when it comes to Apple, it is very likely that iPhone X demand will cannibalise iPhone 8 pre-orders.

"While it takes three to six weeks or more to ship new iPhone models after they are available for preorder, they see the iPhone 8 taking less than one to two weeks. This is due to the iPhone X cannibalisation," streetinsider.com quoted the analyst as saying late on Monday.

Apple unveiled both iPhone X and iPhone 8 models, with the "super-premium" iPhone X starting at $999.

Ming, however, said the new Apple Watch Series 3's (GPS + Cellular version) could be a runaway hit.

"We estimate the preorder weighting of the GPS + Cellular version is 80-90%. While not available in all countries, most users have pre-ordered the GPS + Cellular version because it offers phone and internet access functions without an iPhone and given the low premium of $70 over the GPS version," the analyst predicted.

According to the Verge, while Apple Watch shipments are well below iPhone shipments, investors should start keeping tabs on this new product, with shipments expected to surge much higher than previous generation models.

Apple would launch iPhone 8 and iPhone 8 Plus, starting Rs 64,000, in India on September 29 while pre-bookings will start on September 22.

The iPhone X will come to India on November 3, starting Rs 89,000.

Apple Watch is available in two different case sizes, 38mm and 42mm from September 29 in India.

Apple Watch Series 3 (GPS) will be available in gold, silver and space grey aluminium cases with a Sport Band, starting at Rs 29,900.

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