Apple shipped 29 million iPhone Xs in 4Q17
According to the latest report by Canalys, Apple’s (AAPL) iPhone X was the most frequently shipped smartphone during the holidays. The report stated that Apple shipped 29.0 million iPhone X devices in 4Q17. The iPhone X only hit the stores on November 3, 2017, which was midway through the quarter.
The iPhone X had a good showing, particularly given the $999 price point. This number is slightly lower than analysts’ expectations of its 4Q17 shipments.
Apple regains its momentum in China
According to the Canalys report, the iPhone X was also a hit in China (FXI). Apple shipped 7.0 million iPhone X devices in China, which has been the company’s Achilles’s heel, over the last few years. Local competitors Huawei, Oppo, Vivo, and Xiaomi have been popular in the country.
However, Apple seems to be regaining its momentum in the country. According to recent research by Counterpoint, the iPhone 7 Plus was the second-best-selling smartphone in China in 2017.
Apple plans to report its fiscal 1Q18[1. fiscal 1Q18 ended December 2017] earnings on February 1, 2018. Its robust iPhone X shipments could boost the company’s earnings.
Apple stock has risen 4.6% year-to-date and 47.0% over the last 12 months. Investors expected the iPhone X to deliver after iPhone sales fell for the first time in 2016.