The iPhone SE may be an entry level phone with specs to match, but that isn’t deterring customers from purchasing the handset. According to CEO Tim Cook, sales of the phone are off to a great start with demand exceeding supply.
Apple announced it sold 51.5 million iPhones in the second quarter of 2016, but it did not break down this number by model. When discussing iPhone sales during the earnings conference call, Apple CEO Tim Cook mentioned the SE model specifically and confirmed that consumer demand for the iPhone SE was stronger than expected. As a result of this demand, ship times for the phone have slipped to 2-3 weeks in the US and abroad, despite analyst claims of lackluster sales. Apple is working hard to boost supply and improve ship times said Cook during the earnings call.
Apple reported its Q2 2016 earnings today, announcing its first-ever decline in iPhone sales and its first year-over-year revenue decline in 13 years. Apple sold 51 million iPhones in the quarter, down from 61 million units in the same quarter last year. Revenue also dropped from $58 billion in 2015 to $50.6 billion in 2016. Apple expects this downward decline to continue with revenue of $43 billion forecasted for the upcoming Q3 2016.