Two caveats: 1) It launched 1/3 into the Christmas quarter and 2) it exited the quarter with a ton of excess inventory.
From a note to clients by Wells Fargo’s Aaron Rakers that landed in my inbox Sunday:
Late Friday night IDC published its detailed estimates for smartphone shipments for the December quarter. We think it is important to note, like Apple, IDC reports shipments on a sell-in basis (i.e., reflects Apple’s 3.8M+ seq. iPhone channel inventory build).
Rakers’ takeaways include:
- iPhone X shipments in the December quarter were 26.9MM; accounting for 35% of total shipments in C4Q17. Despite less than a full quarter of availability, iPhone X was the highest selling model in the September + December quarters, accounting for 22% of total shipments. We would highlight that this compares to IDC’s estimate of iPhone 8 Plus shipments in the September + December quarters of 19.8MM units; see table below.
- IDC’s estimates show the U.S. accounted for the most iPhone X shipments at 10.8MM, or 40% of total iPhone X shipments. This was followed by Mainland China at 5.2MM and Japan at 2.4MM…
- While the mix of iPhone X was a significant driver to blended ASP during the quarter, we would highlight 30% of shipments were 256GB capacity option, up from 16% in the prior quarter. For iPhone X, IDC estimates 256GB accounted for 41% of shipments. We estimate average iPhone capacity during the December quarter reached a record 121GB/iPhone, up from 96GB and 86GB in the prior and year ago period. Total NAND flash capacity shipped of 9.4EBs, up 40% yr/yr and compares to 4.5EBs in the prior quarter. This implies the iPhone consumed approximately 20% of total NAND Flash bits in 4Q17.
Here’s the table mentioned in Rakers’ first takeaway:
Click to enlarge.
My take: I wish I knew where IDC gets these numbers.
Correction: An earlier version had a misleading headline that suggested the iPhone X was faster “out of the gate” than any other model. Several friends-of-the-blog called BS on that one. As Superfan13 put it in a tweet:
That chart is a silly comparison. Launch “quarter” for all other iPhones was 1-3 weeks of shipments. IPhone X was on the market for 2 months in it’s launch “quarter.”