Demand for Apple Inc's iPhone is strengthening in the United States and Europe but weakening in China, according to a new consumer survey from UBS.
The Swiss bank polled more than 7,500 smartphone users across the United States, United Kingdom, China, Germany and Japan to gauge appetite for a new handset.
The share of American consumers planning to buy an iPhone in the next 12 months rose to around 20%, up from the year before.
Purchase intent also climbed in the United Kingdom and Germany, but slipped in China to roughly 15%, a new low for the second quarter in the survey's history.
UBS said the Chinese reading was a concern, given the country accounts for about a fifth of iPhone sales and may signal wider economic and competitive pressures.
The findings come ahead of an event in September at which Apple is widely expected to launch its first foldable iPhone.
The survey found that appetite for a foldable made by Apple was far higher than for foldable phones in general, a gap UBS reads as a positive sign for demand.
The bank believes a foldable device would give consumers a more compelling reason to upgrade than the artificial intelligence features Apple unveiled at its developer conference in June.
Interest in those Apple Intelligence features has cooled, with the proportion of respondents saying the technology would prompt them to upgrade sooner falling to about 24%.
Nearly a third said the features would have no bearing on their decision to buy a new phone.
Apple retained the strongest customer loyalty of any handset maker, with about 86% of iPhone owners saying their next phone would also be an iPhone.
UBS kept a 'neutral' rating on Apple shares, with a price target of $296 against a closing price of $287.55.
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Source:https://ca.finance.yahoo.com/news/iphone-demand-splits-us-europe-134900476.html
Thanks for the update
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