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Published: Fri, November 03, 2017
Research | By Jennifer Evans

Apple projects record holiday sales on iphone X demand

Apple projects record holiday sales on iphone X demand

"I'm here for the profit, of course, it's business", he said. Revenue came to $52.6 billion, an increase of 12 percent year-over-year. While interest in the phone is high, that won't necessarily translate into sales.

The most immediately noticeable change to the iPhone X from previous models is the removal of the physical home button and fingerprint sensor that customers use to unlock the device.

The tenth anniversary iPhone will go on sale at 8am this morning, with launch events planned at Apple Stores, Optus, Telstra, and Vodafone outlets around the country.

Apple shook off production problems with its latest iPhone on Thursday to report a 19% rise in profits and record pre-sales of iPhone X, the day before its release.

Apple, due to announce quarterly earnings on Thursday, said it had no immediate comment. But this year it took the unusual step of a staggered launch, releasing the iPhone 8 - essentially an incremental advance over the iPhone 7 - several weeks earlier than the iPhone X. Preorders opened last week. "For iPhone 8 and 8 Plus, we had received the stock earlier", said a sales representative from iNvent.

Positive reviews for the new device and expectations that many users are on the verge of upgrading from older iPhones have sent Apple's stock to record highs, pushing it closer to becoming the first publicly listed company with a stock market value above $1 trillion.

Production is "going well, we're doing more each week and I'm pleased with how things are going", chief executive officer Tim Cook said in an interview.

"My friends don't mind so much if they have an iPhone 8 or a 6, for example, because it looks similar and the price (of the iPhone X) makes you feel nervous".

Initial reviews of the iPhone X called it the best iPhone yet, although some reviewers pointed out potential glitches in FaceID, the company's new face recognition system.

Though the iPhone franchise is somewhat in limbo, there are other factors afoot for Apple. That suggested strong demand and limited supply with Apple saying demand was "off the charts".

Of the iPhone figures cited, "we believe less than 10% of that is the 8", says Daniel Ives, an analyst with GBH Tech Research.

Apple will hope payment plans and easy access to online credit in China will convince people to buy. His last phone was an iPhone 6S.

"It's handsome bro, what a feeling, I'm excited", builder Bishoy Behman, 18, told Reuters after picking up two phones as the first person in the queue.

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