Despite being one of the cheapest iPhones that Apple sells today, the iPhone 12 mini appears to be far below the company’s expectation in terms of sales, as revealed by a Morgan Stanley investment statement note (Via PED30).
The note claims that Apple has cut iPhone 12 mini production by 2 million units in order to create more production capacity for iPhone 12 Pro.
It is believed that Apple has already carried out this change in the first quarter of 2021 in order to meet the demand for the more popular iPhone 12 Pro.
iPhone 12 Pro lead times remain extended far beyond any model launched in the past 4 years at 10 days. Lead times decreased from 22 days ~2 weeks ago as Apple ramps iPhone 12 production signaled by our iPhone supply chain team, led by Sharon Shih, recently raising March quarter iPhone 12 Pro builds by 2M units (which offset a 2M build reduction for the iPhone 12 mini).
The report backs the previous analysis from Consumer Intelligence Research Partners that the sales of iPhone 12 mini are lackluster, accounting for only 6% of the total iPhone 12 sales during the listing period.
iPhone 12 models are performing better in China than in the United States. In China, the iPhone 12 reportedly gained a 20.3% market share, a record high in 18 months. It is revealed that it also acquired the largest number of installations among all iPhones launched in China over the past four years in the first full month after the device’s launch.