New iPhone 5S to Be Delayed Until September
Apple Inc.’s next-generation iPhone is unlikely to be launched before September this year due to delayed shipments of components, according to a recent research note by CLSA Asia Pacific Markets. The Hong Kong-based brokerage believes that delivery of a number of components for the anticipated iPhone 5S have been delayed from June/July to August/September, while the pilot production is most likely to begin in late August.
“We believe the iPhone has been postponed and is now scheduled for September 13,” Nicolas Baratte, head of technology research at CLSA, wrote.
Apple is also expected to launch the new 10-inch iPad model during the third quarter and the smaller iPad mini with a retina display in the fourth quarter, with component shipments scheduled to begin in July, Baratte said.
Moreover, CLSA’s review of suppliers in Asia found that the order rate for the iPhone 5 had been reduced by 10% and by 30% for the iPad mini from one month ago, implying a transition to new products and underlying weak demand in the current quarter. If iPhone and iPad shipments are estimated to decline by 15-20% in the second quarter of 2013 followed by a muted recovery in the third quarter, some Asian suppliers with high exposure to Apple will be affected, Baratte said.
These stocks include Taiwan-listed contract electronics maker Hon Hai Precision Industry, battery pack supplier Simplo Technology, aluminum casing supplier Foxconn Technology, and printed circuit board manufacturer Flexium Interconnect, as well as Hong Kong-listed AAC Technologies Holdings.
On April 23, Apple reported an 11% year-on-year increase in first-quarter revenue to $43.6 billion, higher than the market consensus of $42.3 billion and CLSA’s estimate of $42.8 billion.
The American electronics giant said it shipped 37.4 million iPhones and 19.5 million iPads in the quarter, beating market expectations of 36.4 million iPhones and 18.3 million iPads.
Apple second-quarter revenue projections, however, came in at between $33.5 billion and $35.5 billion. The midpoint of $34.5 billion was 9% below the market consensus of $38 billion, showing weak demand in the current quarter, according to analysts.
Copyright (C) 2013 LexisNexis, a division of Reed Elsevier Inc. All Rights Reserved.
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