Apple says iPhone X pre-orders are 'off the charts'

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Apple Inc quashed concerns of muted demand for its iPhone X on Friday, saying pre-orders for the 10th-anniversary phone were "off the charts."

The company's shares, which have fallen steadily since it announced in early September it would launch two iPhones within two months, rose nearly three percent in response. Pre-orders for the much-anticipated 10th-anniversary phone started from 12.01 am PT (0701 GMT) on Friday.

"We can see from the initial response, customer demand is off the charts," an Apple spokeswoman told Reuters. "We're working hard to get this revolutionary new product into the hands of every customer who wants one, as quickly as possible."

The delivery times of iPhone X pushed out to five to six weeks for the phone, compared to an initial plan of November 3. /Photo via Reuters

The company's website showed delivery times pushed out to five to six weeks for the phone, compared to an initial plan of November 3.

The launch of iPhone X follows weeks of concerns among analysts about the production of the new phone, which for the first time includes new facial identification software to replace the fingerprint used on previous phones.

Analysts have cautioned that production of the phone was below target, due to difficulties in producing the TrueDepth camera system, which houses sophisticated cameras and sensors making it possible to unlock the phone using Face ID.

Major promotions on the iPhone X from US carriers have yet to materialize, and in some cases, the offers have been even less generous than what was available for the iPhone 8, said Walter Piecyk, an analyst at BTIG in a research note on Thursday. The base price for the phone is 999 US dollars.

He noted that Sprint Corp's iPhone X promotion of 350 US dollars in savings for trading in an eligible device was the most aggressive but still lower than what it offered at last year’s launch of the iPhone 7.

Best Buy Co charges an extra 100 US dollars from shoppers if they wish to buy a unactivated iPhone X. /Photo via Reuters

However, electronics retailer Best Buy Co is charging shoppers an extra 100 US dollars, if they wish to buy a unactivated iPhone X outright. If customers order the phone on an installment billing plan, they will pay the same price charged by Apple and the carriers.

"Our prices reflect the fact that no matter a customer's desired plan or carrier, or whether a customer is on a business or personal plan, they are able to get a phone the way they want at Best Buy," Best Buy spokeswoman Carly Charlson said. "Our customers have told us they want this flexibility and sometimes that has a cost."

Source(s): Reuters