“Analysts were quick to see the benefits for Apple in the company’s new iPhone Upgrade Program, the one announcement that took everybody by surprise at Apple’s Sept. 9 iPhone event,” Philip Elmer-DeWitt reports for Fortune.
“What they couldn’t foresee was whether Apple’s customers would see the benefits to the buyer. Piper Jaffray’s Gene Munster, for example, predicted that 15% of new iPhone customers would opt for what is, in effect, a 24-month lease,” P.E.D. reports. “He was way off.”
“In a note to clients issued late Monday, Munster reported that of 188 iPhone 6S buyers surveyed in mid-November, 70 people (37%) chose the new program,” P.E.D. reports. “By the end of the quarter, Munster believes, the actual rate could turn out to be as high as 50%.”
Read more in the full article here.
MacDailyNews Take: Well, hello, halved iPhone replacement cycle!