During November, Apple added 26 new global carrier partners from around the world, expanding their reach of moving even more iPhone units, while setting the new iPhone 6s up for continued growth.
Analyst Maynard Um of Wells Fargo Securities revealed in a note to investors on Tuesday that all 26 carriers added in the month of November came from Africa. As of now, 86% of mobile providers in Africa offer the iPhone.
According to the analyst, these numbers added last month was a “significant” increase that should help raise iPhone sales for the December quarter. With that said, Apple currently has a total of 433 carrier partners worldwide.
Moreover, the iPhone is currently available in 169 countries, and its partnerships cover an estimate of 93% of global mobile subscribers, according to the World Bank. Looking back to Um’s estimation, the iPhone’s penetration is only at 7.7% of the global market. Apple has sold 821 million total iPhones to date, and Um’s estimates note that 500 million of those are active subscribers.
Um also noted that Apple’s expansion in Africa is also joined by promotions in India, where discounts are expected to drive the company’s best ever quarter in local sales. He also noted that sales from Africa or India won’t mean that much to Apple’s bottom line, but they reveal strategic moves by the company to boost sales without having a significant impact on margins.
Different analyst and market watchers expect Apple to reveal yet another record-breaking quarter for this month, which will be driven for demand for the new iPhone 6s series. In addition, analyst see iPhone sales to reach 80 million this year, which would beat out last year’s record of 74.5 million.
Wells Forgo Securities still shows a rating of “outperform” for shares of AAPL with a price target ranging from $125 to $135.
Source info: Wells Fargo Securities note
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