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Apple Shares Down Because of lower Demand of iPhone 16 Pro Models

Shares of American devices maker Apple were down by almost three percent on Monday. Some analysts had said that the demand for Pro models of the iPhone 16 series launched last week may be lower than expected. The main reason for this is the delay by the company in bringing features related to Artificial Intelligence (AI).

The American version of the company’s AI software Apple Intelligence can be brought into beta next month. Its other versions may come next year. For this reason, some customers are reluctant to upgrade their smartphones to iPhone 16. Pre-orders for these smartphones started last week. The company’s demand for iPhone 16 Plus of this series has increased the most compared to previous iPhones. Apple is receiving less pre-orders for iPhone 16 Pro and iPhone 16 Pro Max.

Ming-Chi Kuo, analyst at TF Securities, said in a blog post that demand for the iPhone 16 and iPhone 16 Plus has increased on a year-on-year basis compared to similar models in the previous series. Apple has received about 10 percent more demand for pre-orders for iPhone 16 and about 48 percent more demand for iPhone 16 Plus in the first weekend. Sales on the first weekend of pre-order of the iPhone 16 series are estimated to be around 37 lakh units. This is about 12.7 percent less than the iPhone 15 series introduced last year.

Kuo said that the lack of Apple Intelligence features at the launch of the new iPhone series could be a reason for the low number of pre-orders. Recently, at the Worldwide Developers Conference (WWDC), Apple showcased features like writing tools and image playground. The iOS 18.1 update to be released next month will have only some of these features and the rest will be brought next year. Demand for iPhone 16 series may increase in the upcoming holiday season. In the country, Apple has reduced the prices of the previous series iPhone models by Rs 10,000. The price of iPhone 15, introduced last year, and iPhone 14, introduced in 2022, has been reduced by Rs 10,000 on the company’s online store.

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Smartphone, Demand, Iphone 16, Features, Market, Apple, Manufacturing, Sensor, Battery, Artificial Intelligence, Sales, Design, Bookings, Prices
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