Apple’s CEO Tim Cook says he expects iPhone 11 to sell very well, adding that the company’s services and wearables are also likely to record a good performance in the next quarter.
In an interview for Reuters, Cook explained that he anticipates the iPhone 11 generation to have what he describes as a “very, very good start.”
Apple’s 2019 iPhone generation debuted in September, and the company’s latest quarterly earnings report includes only two weeks of new iPhone sales, with a more significant impact expected in the next quarter.
Cheapest iPhone, the most successful
However, Cook says Apple is already seeing early strong performance for the iPhone 11, which is available from $699, down $50 from the original starting price of the model it replaces.
“The starting price of $699 is a factor in bringing more people into the market and giving people just another reason to upgrade,” Cook told Reuters. “In China specifically … we picked locally relevant price points that were more similar to the price points that had great success with earlier.”
Apple is also expected to unveil a new cheaper iPhone in the spring of 2020 as the second-generation iPhone SE. This device will be based on iPhone 8 and have a starting price of $399.
“iPhone had a remarkable comeback from the way we performed earlier in the year,” Cook noted.
Additionally, Apple’s CEO said he expects the trade war between the United States and China to come to an end soon, a thing that would allow the Cupertino-based tech giant to return its business to normal, without concerns of sanctions from the Beijing government.
“I don’t know every chapter of the book, but I think that will eventually happen,” Cook was quoted as saying. “I certainly hope it happens during the quarter, but we’ll see about that.”