| | | Can Apple Sell 200 Million iPhones This Year?
In its first quarter of fiscal 2014, Apple Inc. ( AAPL) reported selling 51.03 million iPhones. The company's
second quarter, which ended in March, saw total sales fall to 43.72 million. So for the first half of its fiscal
year, Apple has sold 94.75 million phones. To make it to 200 million, Apple needs to pick up its game.
Last year the company sold about 150.26 million iPhones, meaning that sales have to grow by a third for
Apple to hit the 200 million target. What is different this year? First, there's the deal with China Mobile Ltd.
( CHL) that gives Apple access to the Chinese giant’s 750 million subscribers. The iPhone is still very
expensive for most Chinese consumers, but just counting the ones who would not have to spend a month's
salary or more for the phone is still a big number.
According to a June 2013 report from McKinsey, 54% of 256 million urban households in China were
counted as "mass middle class" in 2012 and another 14% were included in what the research firm called
the "upper middle class." In 10 years, the mass middle class will shrink to 22% of urban households and
the upper middle class will swell to 54%. The total of middle class households will rise to 357 million.
The percentage of affluent Chinese urban households will grow from 3% to 9% in 10 years.
More at: finance.yahoo.com
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