Reports indicate that the Apple Inc. (NASDAQ:AAPL) iPhone X is enjoying healthy demand in China with regards to pre-orders before the device hits the stores on November 3. According to analysts this bodes well for a firm which has faced struggles in the most populous country in the world.
Per CNBC online retailers such as Tmall and JD.com have recorded over 2.5 million pre-orders of the iPhone X while three million more pre-orders have been recorded at other Chinese e-commerce sites. Social media chatter centering around the iPhone X has also increased in China with the #iPhoneX hashtag being clicked on more than 400 million times.
Some of the features that are driving the interest include animated emojis and Face ID, Apple’s facial recognition system. The strong demand for the iPhone X is not restricted to China alone. In Hong Kong pre-orders for the device sold out in half an hours. Customers in the United Kingdom, the United States and a couple of countries in Europe also have to endure wait times that are as long as six weeks.
Previously Apple has struggled to establish itself in China during to intense competition from domestic smartphone manufacturers who offer premium devices at lower prices relative to the iPhone. There still is concern that at a starting price of $999 the iPhone X is out of reach for many consumers in the world’s second largest economy.
“Price appears to be a major constraint on iPhone X demand, particularly in China,” said Toni Sacconaghi an analyst at Bernstein who wrote recently that even though 75% of respondents in China were enthralled by the iPhone X, only about 25% planned to acquire one.
Earlier in the week, Canalys, a market research firm, said that iPhone shipments rose by 40% in China in Q3. This was the first time in six quarters during which there was an increase. It is also the best performance by Apple in the last eight quarters. Canalys’ analysts however warned that the growth was temporary.
On Wednesday shares of Apple Inc fell by 1.27% to close the day at $166.89.