Apple iPhone X Becomes World's Best-Selling Smartphone in Q1 2018

I bought the iPhone X six months ago here's what I think about it now

Now, Strategy Analytics confirms that iPhone X was the best-selling smartphone model in the first quarter of 2018. And Xiaomi Redmi 5A was the surprise in this list, taking the 5th spot with 5.3 million units.

Interestingly, Apple's previous generation, the iPhone 7 took fourth place on the chart with 5.6 Million units. Apple shipped 12.5 million iPhone 8 units, which had a 3.6 percent share of the market, followed by the iPhone 8 Plus' 8.3 million units, and 2.4 percent share. (In contrast, IDC states that 334.3 million units were shipped by smartphone vendors.) The iPhone X - Apple's most expensive iPhone yet - was found to be the world's best-selling smartphone model, as it shipped 16 million units during the quarter.

Sales speculation surrounding Apple's iPhone X has been interesting to track. The phone is powered by the A11 Bionic chip, which is also on the iPhone 8 series. It makes me suspect that perhaps initial demand for the iPhone X was so high that it made Apple think it would be a somewhat larger percentage of the iPhone product mix overall, so it cranked up iPhone X production. In February this year, Apple reported a $20 billion profit in the quarter that ended on December 30, 2017.

Contrary to analyst predictions, Apple's big bet on its iPhone X smartphone has paid off.

As per IDC's report, global smartphone shipments reached a total of 334.3 million units in the first quarter of this current year. Citing supply chain sources, the post on the Chinese social media network claims that Apple could ship its new 2018 iPhone models with 18W power adapters and USB-C to Lightning charging cables, which would allow for fast charging out of the box.

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After all the brouhaha over tepid Apple iPhone X forecasts, it turns out that the iPhone X indeed was the most shipped smartphone in Q1 2018. During the same quarter a year ago, the firm earned $2.10 EPS.

The next-best-thing is the iPhone X, which accounted for 4.6% of the market in Q1 2018. Strategy Analytics did not mention who will be the top selling smartphone brand in Q2. According to Strategy Analysis, Samsung's Galaxy S9 sells would grow up and the phone could achieve the first position in the next quarter.

"The S9 Plus delivers an attractive, bezel-less, curved-screen design, a rich portfolio of software apps, and best-in-class retail distribution across dozens of countries".

The phone managed to beat analysts' fears regarding its market performance due to its high price. Finally, HSBC set a $204.00 price objective on shares of Apple and gave the company a "buy" rating in a research note on Tuesday, January 30th.

"We estimate that Xiaomi Redmi 5A shipped 5.4 million units for fifth place and 2 percent marketshare worldwide in Q1-2018".

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