Today Bank of America today published a research note indicating that iPhone 7 hadn’t moved electronics retail spending as much as iPhone releases had in years past.
How do the analysts not account for Apple’s biggest rival, Samsung, scrapping tens of millions of units due to battery fires and the associated consumer fallout during the same time period? Samsung is taking a $2.3B writedown – this is a big deal.
- The latest version of the iPhone was released in September, which likely contributed to a gain in electronic store sales, following the prior four months of contraction.
- However, we did not see a spike in electronic store sales akin to prior releases of Apple devices. It may be a reflection of the iPhone 7 or perhaps that the trend in electronic store sales ex-iPhone is sluggish.
- Moreover, we may see an additional boost to electronics sales in October from iPhone 7 sales.
Sure some folks are picking up other devices including the iPhone but not everyone is. Nowhere in the analysis does BofA mention Samsung or the Note 7.
