“U.S. wireless carriers Sprint Corp. and T-Mobile US Inc. said on Tuesday they received strong pre-orders for Apple Inc’s (AAPL.O) iPhone 7, sending shares of the world’s most valuable listed company up 3 percent,” Reuters reports.
“Sprint said pre-orders were up nearly four times, compared to last year. Pre-orders also rose nearly four times at T-Mobile, compared with its next most popular iPhone,” Reuters reports. “The companies did not disclose specific sales numbers. Pre-orders started on Friday. Details about sales of the new iPhone are scarce after Apple announced last week it would not release weekend sales data, saying the number was more a reflection of supply than demand.”
“‘…We believe investors could consider these strong early pre-order indications as being reflective of the impact of Apple’s significant iPhone installed base expansion over the past few years,” Stifel analyst Aaron Rakers said in a note,'” Reuters reports. “Apple’s shares were up 2.8 percent at $108.19 in morning trading.”
Read more in the full article here.
MacDailyNews Take: Gee, and they don’t even have anachronistic 3.5mm headphone jacks! 😉
YKBAID.
SEE ALSO:
Mossberg reviews Apple’s iPhone 7/Plus: It’s a great phone, but where’s my headphone jack? – September 13, 2016
The Verge reviews Apple’s iPhone 7/Plus: ‘The future in disguise’ – September 13, 2016
Customers begin queueing for Apple’s iPhone 7 five days ahead of release; pro line-sitters charging thousands to save a spot – September 13, 2016
No headphone jack? No problem: How to listen to music while you sync and charge your new iPhone 7/Plus – September 8, 2016
Funny how everyone jumped on the Samsung bandwagon about how much better they are than Apple and they only had sold 2.5 million Notes when they had to recall – Apple probably sold 10 Million in the first 10 minutes Freaking hate Wall Street for Punishing Apple…
Ain’t it the truth. Talk about a reality distortion field! SamSplode stock though plummeted on news of the Mission Impossible-esque “explode within 5 seconds” phones so there is hope people will realize the Seoul emperor has no clothes, only a clothes washer to sell.
I don’t recall them saying they sold 2.5 million Note 7’s. Their press release said they “shipped” 2.5 million. How many were sitting on selves in the stock room?
Well, apparently these carriers are using iPhone 7 to lock in their customers for the next two years.
The old concept of a two-year contract has been largely thrown out the window. Carriers had to compete, so now most of them no longer bother with the two year contracts. What they do offer is an interest-free 24-installment payment plan, which is similar to the old two-year contract, but with a major difference: once you pay your phone off, you have nothing ties you to the carrier (plus, the monthly rate goes down). And you can pay off the balance on your loan at any time, making carrier-switching much easier.
So, carriers are now looking for ways to lock you into the two years and keep you there, and they found it. They are spending close to $200 per customer for this, but they are getting what they want. Here’s how.
Today, if you have iPhone 6 / 6+ or 6S / 6S)+ (any capacity), that has been paid off in full, you can swap it out for iPhone 7 at no additional charge (you just pay retail tax on the price of new 7). The deal is fairly straightforward, although the process isn’t quite. What T-Mobile (and I think AT&T as well) will do is this. They will sell you the new 7 (7+) at full retail price and set you up for a 24-installment interest free loan, but then they will keep paying those monthly installments for you. Your monthly bill will reflect EIP (Equipment Installment Plan) loan with its remaining balance, plus a credit of $27 (the amount representing your monthly installment on that EIP). In other words, you give them your old 6, they give you a free 7.
The catch? If you want to get out of that two-year contract early, you have to pay off your EIP balance, but the carrier won’t reimburse you for that balance; in other words, they’ll only keep giving you money for your monthly payments as long as you stay on monthly payments.
We’ll have to find out what will happen next year, when the new model arrives, and we still have one more year of payments (which carrier is paying for us). Hopefully, there will be a similar promotion.
I have a one-year old 6S and will be paying off my EIP balance and getting that 7 deal. I suspect many who were planning on skipping will decide to do this free swap.
I want to remind everybody to read the carrier contract before signing. On Friday the T-Mobile sales rep quoted me a ship date of September 29th for three iPhone 7+’s. One of those models I’m ordering is jet black. Someone on another blog mentioned that ship times T-mobile was quoting was BS, so today I called T-Mobile. They told me it will be shipped between November 1 though November 30, instead of the September 29th date the told me over the phone. Obviously, this made me angry, but when I looked at the contract the November dates were quoted there. Since preorders started around 5 days ago, I asked one rep if the recent quoted ship dates are extending into January 2017. She couldn’t give me an answer. Moral of the story is never trust what the carrier verbally tells you over the phone.
My next option is to stand in line at the local T-Mobile store. I spoke with several T-Mobile reps today and one told me that no carrier will be geting the jet black model for the 9-16 sales date. I was told by my local T-Mobile store to call Thursday night to see which models they have for sale.
I was scheduled to upgrade in November, but whilst I’m impressed with the iPhone 7 I’m not going to get one – at least not year. The Apple Watch looks good enough now to be worth buying so I’m getting one of them and staggering my iPhone purchase by 10 months so I can get the 7s (or whatever it is). As good as the iPhone 7 performance will be in comparison to my 6 I don’t feel that my 6 is lagging performance wise in the same was that my 4S was when I upgraded that so I think it will last 3 years this one time rather than 2.
But, but, but, but — everyone knows iPhone sales are dropping like a rock. Apple is doomed!
/s
I hate to be the realist in the room, but Apple stock price has only just now returned to the level it was before the boring keynote event. One suspects that AAPL is benefitting from all the bad press that Samsung earned itself. How is the iPhone 6S selling compared to the iPhone 7?