Demand for the iPhone 12 range is starting to decline, but investment bank JP Morgan is still tracking an increase in shipments year-over-year due to the adoption of 5G.
In a note to investors seen by AppleInsider, JP Morgan analyst Samik Chatterjee revised his iPhone shipping estimate for 2021 to 230 million units, down from about 236 million units. Despite this, Chatterjee notes that the number still represents a 13% increase in shipping volume from 2020.
The analyst cites a downward revision of JP Morgan’s iPhone Electronics Manufacturing Service (EMS) construction estimates, as well as recent channel checks in China suggesting weaker-than-expected smartphone demand in the country.
Revisions downwards …
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