OLED Association
  • Home
  • Past Musings
  • Who We Are
  • FPD & OLED Market Reports
  • Board Members
    • Members
  • Join Us
  • Contact OLED-A
  • Evaluation
  • BOE, Tianma, TCL Report Strong Profits In 2021_03/27/22
  • Home
  • Past Musings
  • Who We Are
  • FPD & OLED Market Reports
  • Board Members
    • Members
  • Join Us
  • Contact OLED-A
  • Evaluation
  • BOE, Tianma, TCL Report Strong Profits In 2021_03/27/22
Search by typing & pressing enter

YOUR CART

Musing-Weekly Newsletter

Vertical Divider
JP Morgan Expects iPhone Installed Base to Reach 1.4b by 2021
December 03, 2018
 
JP Morgan, reported on iPhone growth, which is driven by: 1) new subscribers; 2) incremental consumer switching to iOS; and 3) replacement units from existing iOS users making it to the secondary market (Apple has ~50% share of the secondary market relative to 15% of new smartphone market). JP Morgan estimates that the total installed base in 2017 reached 1.4b devices (including ~1b iPhones) and forecasts the total installed base at 1.9bn by 2021, corresponding to 7% CAGR.

Figure 1: iPhone Installed Base
Picture
Source: Company reports and J.P. Morgan estimates

    ​Subscribe to Musing

Submit
Figure 2: Contribution & Composition of Apple Revenue Growth
Picture
Source: Company reports and J.P. Morgan estimates
​One of the reasons that the class action case is so important is that services are becoming a larger share of Apple’s revenue growth. Between 2012 and 2017, Services revenue contributed by 20% ($17 billion) to total revenue growth ($73 billion) while iPhone sales contributed by 74% ($63 billion). With the growing installed base, services are expected to continue to grow by at least 20% per annum. 

Contact Us

Barry Young
​barry@oled-a.org

Neo Kim
​neo@oled-a.org


Sungeun Kim
​sungeun@oled-a.org

Visit us at OLED-A.org



COPY RIGHT  2022 OLED ASSOCIATION. ALL RIGHTS RESERVED DISCLAIMER