KGI: iPhone X is eating iPhone 8’s lunch

You may have noticed that there isn’t a long waiting list for Apple’s new iPhone 8 yet because many early adopters are patiently awaiting for the pricier iPhone X, which starts at $999.

The fact wasn’t lost on KGI Securities analyst Ming-Chi Kuo who noted in today’s report to clients, obtained by MacRumors, that demand for the flagship OLED phone is “very likely” to cannibalize iPhone 8 pre-orders, which Apple will start accepting at the end of next month.

Historically, it takes 3-6 weeks or more to ship new iPhone models after they are available for preorder, due to initial tight supply and robust demand. However, our latest review indicates it will take less than 1-2 weeks for iPhone 8. We believe this is because there is a strong likelihood that iPhone X demand will cannibalize iPhone 8 pre-orders.

Apple began accepting preorders for the new iPhone 8 last Friday ahead of its arrival this Friday. Preorders for iPhone X will go live October 27 ahead of its November 3 launch.

We conducted a poll on the new Apple devices from Apple’s keynote that iDownloadBlog readers are planning on buying. Unsurprisingly, iPhone X came on top with more than half of the respondents opting for the flagship smartphone while Apple Watch Series 3 (GPS + Cellular) was second with about fifteen percent of votes.

Separately, Kuo said that demand for the LTE version of Apple Watch Series 3 was “significantly stronger” than originally thought due to its “low premium of $70” over the Wi-Fi only models.

The analyst has estimated that the LTE watch has accounted for between 80 and 90 percent of preorders versus his original pre-keynote forecast of 30-40 percent, perhaps expected given the limited number of countries where the LTE version of the device was available for preorder.

Are you awaiting for iPhone X? And, in your personal opinion, what device is a better value for money, the LCD-based iPhone 8 or the OLED-based iPhone X?

Let us know in the comments below!