iPhone X Released Amongst High Demand

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iPhone X Released Amongst High Demand

CNET

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CNET

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CALDWELL — On Oct. 27, the long-awaited iPhone X became available for pre-order. In under 17 minutes, the iPhone X sold out on Apple’s website and many devices purchased after that time will not be shipped until five or six weeks after the Nov. 3 release date.

The iPhone X is Apple’s most expensive smartphone to date. The 64 and 256 GB models retail for $999 and $1149, respectively. Despite the high price tag, the demand for the iPhone X is high.

When the iPhone X was released in Apple stores on Nov. 3, lines of consumers stood outside to purchase the device at 8 a.m. “Lines were stronger than we have seen in years across Apple stores and rivaled iPhone 6 first day build up,” said Daniel Ives, an analyst with GBH Tech Research. The release of iPhone 6 was the last time Apple featured a redesigned and re-imagined phone, which makes it similar in many ways to the iPhone X.

“The iPhone X line counts exceeded lines for the previous 3 iPhone releases, including lines 57% longer than the iPhone 7 lines,” George Munster, an investor and analyst with Loup Ventures wrote in a blog post.

The new iPhone features an edge-to-edge OLED screen, facial recognition, the ability to produce animated emojis from the user’s facial expressions, and wireless charging. The iPhone X has new features that past phones do not have, making it more desirable to customers. Some of these advancements are unlike any smartphone for sale today.

The main concern is why so many people are willing to spend over $999 on an item that is not considered a necessity. To many people, the money spent on a new iPhone X could be used for personal bills like rent, school tuition, and groceries. On Oct. 27, Twitter users posted various Tweets, mocking the harsh reality that many face each day. “Pay rent, pre-order iPhone X,” said Twitter user, Mariely Lares. Another user said, “Ordered my new iPhone X! Only one catch … had to sell my wife and kids (and dog) to pay for it!”

Another factor that impacts the high demand for an iPhone X is advertising. Teenagers have become one of the major targets of those advertisements. “It’s a matter of survival to get new customers. Today’s 18 year old is only 10 years away from being someone with a job and savings and trying to figure out a 401(k) for the first time,” said Peter Tuz, portfolio manager of the $84 million Chase Growth Fund. Teenagers exert a strong influence on their parents’ spending, including large purchases like cars and phones. It would be easy for them to receive the phone since the teenagers are not paying for the iPhone themselves.

With Black Friday only two weeks away, many people are waiting for a special promotion on the iPhone X. According to Best Black Friday, a site that researches and lists best deals, retailers could offer a $0 down and $300 gift card offer when customers buy the 64GB iPhone X on an installment plan. There’s no way of knowing if retailers will give the same offers they had in the past, but the deals have been consistent, even on new Apple smartphones. Anyone who hopes to receive the revolutionary iPhone X at a lower price as soon as possible, their best chance is dealing with the huge lines that form early in the morning.

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