Apple's flagship product, the iPhone, seems gradually losing its allure. A new survey said consumers are losing interest despite the recent release of the iPhone X.
Wall Street research firm Cowen said the iPhone X appears to be losing steam just a few months after its launch. A survey conducted by Cowen, in which 1,100 respondents participated, showed that majority of current iPhone owners do not plan to make a jump anytime soon, and not even the latest iPhone model will convince them to buy.
"iPhone appeal moderating across the industry," the findings state in the Cowen report.
Consumers' Interest In iPhone X Dips
The research likewise indicated that existing postpaid users' interest dipped from 87.6 percent during the quarter before the iPhone X release to 80.5 percent by the end of 2017. The data somehow suggested that the iPhone, which Apple has been advertising as the future of the smartphone, failed to inspire the same amount of curiosity prompted by its predecessors.
The survey results, Cowen said, should alarm Apple, which became the world's most valuable company mainly on the staggering sales figures that the iPhones generated in the past.
What's Causing The Drop
Why is it that smartphone users are not buying into Apple's marketing ploy for the iPhone X? When the handset was unveiled, Apple CEO Tim Cook boldly declared the iPhone X "will set the path for technology for the next decade." However, the reception seems tepid at best.
The answer seems obvious: most consumers are unwilling to pay Apple's asking price for the handset, which starts at $1,000. It might be that the iPhone X has its shares of compelling features and attractions. The Cowen report pointed out, however, that the handset's sticker price could be turning off would-be upgraders and first-time buyers in large amounts.
It did not also help that unlike in the past, wireless carriers in the United States opted not to drum up interest for the iPhone X. Without advertising and discount support, the new model failed to sink deeper into consumers' consciousness.
Apple's Next Move
If the survey will prove accurate, then it's a must for Apple to make the iPhone X more attractive. The challenge is for the company to package its new flagship phone as an irresistible buy.
To expect a markdown on the retail price is next to a moonshot, but it's something that Apple can seriously consider if only to convert would-be smartphone buyers looking to score one.
The better move, though, is to resolve the reported supply constraints plaguing the iPhone X in some markets. Making the device readily available might just do wonders for Apple's latest hero smartphone.