Apple's headquarters in Cupertino, California. / Photo by: Coolcaesar via Wikimedia Commons |
The strong demand for new models has been spurred by iPhone users who have not upgraded their phones in recent years.
BlueFin noted that upgrading to new iPhones in the past few years has been below historical patterns.
This trend has been caused by the size, cost and the uniformity in the design of smartphones.
There were also reports that demand for the iPhone X has not met company expectations because of its US$999 retail price which has turned off a lot of buyers who refuse to pay an exorbitant price just to be able to get their hands on the latest phone model.
On the other hand, Apple counters that its iPhone X had been widely received by the public, pointing to its billions of quarterly profits as proof.
The new iPhone models for 2018 will address several concerns, according to BlueFin.
The iPhone 11 Plus will cater to customers who are not satisfied with the size of the iPhone X, while the iPhone 9 is geared towards budget-conscious buyers.
The iPhone 9 will have an LCD screen while the iPhone 11 and Plus will feature OLED screens.
BlueFin also says Apple will manufacture 28 million units of the iPhone 9 and 11 in the third quarter of 2018, 64 million units during the Christmas season, and 46 million iPhones in each of the first two quarters of 2019.
Apple will also start selling the 2018 iPhone X for US$899, a discount of US$100 from its price from the previous, which the company does for year-old models.