With Over 2 Million Orders In Just 24 Hours, Preorders For Apple iPhone 12 Surpass iPhone 11 On First Day: Report

With Over 2 Million Orders In Just 24 Hours, Preorders For Apple iPhone 12 Surpass iPhone 11 On First Day: ReportiPhone 12 series (Pic Via Apple website)

The Apple iPhone 12 preorders on the first day surpassed iPhone 11 preorders on the first day last year, famed Apple analyst Ming-Chi Kuo of TF International Securities said on Monday (19 October).

According to Kuo, the orders topped 2 million for iPhone 12 models in the first 24 hours, up from 800,000 units of the iPhone 11 for the same period last year.

In a research note, Kuo predicted that Apple may sell up to 9 million iPhone 12 units.

"Kuo has an excellent track record predicting future Apple products and sales, so his reports carry extra weight, especially since Apple stopped reporting unit sales for the iPhone two years ago," reports CNBC.

"Apple stopped reporting first-weekend sales of new iPhone models several years ago."

The tech giant has launched four new iPhone 12 models with 5G capabilities.

The tech giant is expected to witness 15 per cent iPhone growth next fiscal year and the primary wave of Apple 5G telephones has placed the ball in carriers and builders' court, research-driven US venture capital firm Loup Ventures has forecast.

According to a report in DigiTimes, Apple iPhone 12 series shipments are expected to reach as many as 80 million units by the end of the year owing to more affordable pricing strategy.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)