“International growth played an important part in Apple’s better than expected quarterly results. The company reported 131% year-over-year growth in iPhone unit sales for the quarter in addition to improvement in overall margins,” Trefis blogs for Forbes. “We estimate that the iPhone constitutes about 50% of our $294 price estimate for Apple’s stock.”
“High growth came from Asia Pacific where iPhone unit sales grew 474% year-over-year, Japan grew 183%, and Europe grew 133%,” Trefis reports. “Apple iPhone’s market share has increased from 0.3% in 2007 to 2% in 2009. We currently forecast that iPhone market share will reach 3.2% in 2010 and 11% by the end of Trefis forecast period . As highlighted in earlier article, iPhone market share could reach 4.5% in 2010 (implying 58 million iPhones sold in 2010) if the company were able to grow unit sales in line with 2009 quarterly iPhone unit growth rates.”
Trefis reports, “By increasing our original forecast (shown below) to 4.5% in 2010, while maintaining our outer year market share growth rates, you can see how the higher share in 2010 would lead to 13% share by the end of the Trefis forecast period… Even if both AT&T and Verizon distribute the iPhone in the US in 2010, more than half of the 58 million 2010 iPhone sales implied by our earlier 4.5% market share estimate would come from high growth international markets.”
Trefis reports, “The mix of international sales will shift further as demand for iPhones in the US market levels off. We estimate that about 85% of iPhones sold by the end of our forecast period will be sold outside the US. If Apple’s mobile phone market share were to increase to nearly 13% by the end of our forecast period , that would imply sales of about 35 million iPhones in the US and nearly 200 million internationally.”
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]