iPhone SE is attracting buyers across markets
In the earnings call, Apple (AAPL) CEO Tim Cook stated that the iPhone SE had a successful global launch and “demand outstripped supply throughout the quarter.” In order to meet the growing demand for the iPhone SE, Apple brought additional capacity as well.
At the launch of the iPhone SE in March 2016, Apple had primarily targeted customers who want a smaller size phone at a lower price. Cook also stated that the iPhone SE is popular in both the developed and emerging markets (EEM).
Apple targeted over 4 million shipments of iPhone SE in fiscal 3Q16
Earlier this year, AppleInsider stated that Apple could ship 4 million–6 million iPhone SE units in fiscal 3Q16. According to AppleInsider, the traffic to Apple’s website in China and India (EPI) saw “significant surges” on March 21, 2016, the day Apple announced the iPhone SE and 9.7-inch iPad Pro.
Apple management also stated that the company managed to sell over 4 million iPhone SE models in fiscal 3Q16. RBC Capital’s Amit Daryanani expected iPhone SE to drive revenues by $6.8 billion, or $0.23 per share, in 2016, with an ASP (average selling price) of $450.
Market research firm SimilarWeb reported that the overall traffic stood at 21.5 million visits on March 21, an 83% increase over the previous day. This was below the 87% one-day surge for the iPhone 6s announcement last year and a 195% spike on the unveiling of the iPhone 6 in 2014.
According to Cook, Apple “added millions of first-time smartphone buyers in the June quarter, and switchers accounted for the highest percentage of quarterly iPhone sales we’ve ever measured. In absolute terms, our year-to-date iPhone sales to switchers are the greatest we’ve seen in any nine-month period, and our active installed base of iPhones is up strong double-digits year over year.”