Apple iPhone X Sales Forecast Lackluster, Even Woz Says He’s Holding Out

Apple's iPhone X was making news well before the device was anywhere close to official, with speculation on what features the smartphone would offer running rampant. Now that we know all about the device down to its cost and when it will launch, the real story is just how many people will fork over the loot to buy what is one of the most expensive smartphones ever sold at $999. A new survey had made the rounds that claims iPhone X demand will be substantial, but that survey says demand won't be exceptional.

iPhone X

The report comes from a survey by brokerage Bernstein, and it found that about a quarter of the respondents planned to buy the iPhone X. There has been anticipation for sure surrounding the iPhone X, which is why demand for the iPhone 8 and iPhone 8 Plus has suffered. Apple's stock price tumbled thanks to soft iPhone 8 sales.

The Bernstein survey polled 1,112 iPhone owners in the U.S., U.K., and China reports Reuters. The survey found, "The excitement surrounding the iPhone X appears to be magnitudes higher than actual purchase intent – 48 percent of respondents agreed/strongly agreed that they were ‘excited for the iPhone X."

The upside is that iPhone owners remain very loyal to the brand. "Consumer loyalty to iPhone remains remarkably strong, despite persistent complaints about high prices and worries about declining innovation, with only 3 percent of respondents stating that their next phone would *not* be an iPhone," Bernstein said.

As the launch nears, we also have new details on carrier discounts, trade-in offers, and deals on the iPhone X. We talked about Sprint's discount of up to $350 on the iPhone X yesterday. Verizon will offer up to $300 off the iPhone X with an eligible trade-in. The smartphone will cost $41.66 monthly on a 24-month lease.

T-Mobile will offer $300 off the iPhone X with trade-in. On the regular T-Mobile installment plan, the 64GB iPhone X will be $279.99 down and $30 monthly with the 256GB device at $429.99 down and $30 a month. On Jump! Plans, the 64GB version is $0 down and $41.56 monthly with the 256GB version at $429.99 down and $24 monthly.

As we learn about offers on the new iPhone X, Steve Wozniak, Apple co-founder, has said that he would be holding off on upgrading to the iPhone X. Yahoo Finance quotes Woz saying, "I'd rather wait and watch that one. I'm happy with my iPhone 8 — which is the same as the iPhone 7, which is the same as the iPhone 6, to me," Wozniak said, speaking from the sidelines of the Money 20/20 conference. "For some reason, the iPhone X is going to be the first iPhone I didn't — on day 1 — upgrade to. But my wife will, so I'll be close enough to see it."

Woz also pointed out that he wasn't sure if Face ID would work as it is promised. Woz isn't the only person with the same trepidation about the iPhone X, but with the launch around the corner, time will tell how well Apple does and if soft iPhone 8 sales is because of people holding off for the iPhone X.