Analyst: Verizon to cannibalize 6.5M iPhone sales from AT&T

“Analyst Gene Munster with Piper Jaffray said in a note to investors on Monday that he believes the launch of a Verizon iPhone will increase total 2011 U.S. handset sales for Apple by 2.5 million, a number he cautioned ‘may be conservative,'” Neil Hughes reports for AppleInsider.

“In all, Munster sees AT&T selling 11 million iPhones, and 9 million from Verizon,” Hughes reports. “Munster sees Verizon activating 25 million total smartphones in calendar year 2011.”

Hughes reports, “Munster’s model places Apple with a much lower share of smartphone sales that the iPhone currently enjoys at AT&T. In the September 2010 quarter, Munster estimates that the record 5.2 million iPhones activated by AT&T accounted for about 80 percent of all smartphones sold by the carrier.”

Full article here.

MacDailyNews Take: Munster is underestimating the impact Apple’s iPhone will have on Verizon’s sales of pretend iPhones.