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Wednesday, Jul 10
Canaccord's Mike Walkley cuts his 2013 smartphone sales forecast by 20M to 959M, and his 2014...
Canaccord's Mike Walkley cuts his 2013 smartphone sales forecast by 20M to 959M, and his 2014 forecast by 40M to 1.25B, citing surveys pointing to softer high-end sales, especially in Europe. While the surveys indicate iPhone 4 (AAPL -0.1%) and Galaxy S III (SSNLF.PK) sales were above expectations, they suggest the opposite for the iPhone 5 and Galaxy S4. Also, low-end/mid-range Android sales from Chinese OEMs are said to be "very strong" (good for SPRD), and high-end Lumia (NOK -2.4%) sales soft. Sales of the cheaper Lumia 520 and 620 are deemed "solid," but Walkley expects sell-in to slow as inventories rise. His report comes shortly after Samsung forecast light Q2 profits, and Wedge Partners reported of iPhone build order cuts. (also)