Apple Projected to Sell 35 Million iPhones in China Next Year
From personal visits by Apple CEO Tim Cook, to Apple's expanding workforce and production aims across the nation, China is clearly an integral part of Apple's business model and enterprise goals for the remainder of the decade.
For that reason, with each passing month more and more Wall Street analysts join the list of believers who think that the iDevice maker will see iPhone sales explode through the roof next year. On Monday, another prominent "believer" came forward.
In a note issued to investors today, Deutsche Bank's Chris Whitmore says 2013 will be a huge year for iPhone sales in China. Just how optimistic is he? His note today was titled: "iPhone is just getting started in China." This leaves very little to the imagination.
"In 1Q," Whitmore writes, "we estimate Apple has captured less than 15% share of China Unicom and China Telecom's combined 3G subscriber base. Over the next few years, we expect Apple to benefit from strong 3G sub growth at these two partners while continuing its path of share gains. If Apple reaches 20-25% penetration of this subscriber base by the end of 2013, we estimate iPhone unit sales in China would approach ~25M units in 2012 and ~35M units in 2013. Any benefit from a future partnership with China Mobile would be additive to these estimates."