Apple to see growth in iPhone demand in H2 2020: Cowen

Cowen thinks that the Cupertino firm will sell 37 million iPhones in the quarter, which will be a 12% quarter over quarter increase.

The firm has forecasted that Apple’s Services sector won’t be affected and will stay strong due to the work from home culture. (REUTERS)

Earlier this year Apple was reported to have faced a drop in iPhone sales due to coronavirus pandemic affecting the production and sales. In March, a report from Reuters suggested a slight rebound in shipments in China. More recently we saw Apple launching the rather 'affordable' iPhone SE that will likely boost the sales. However, since the handset came out during the lockdown period, not many are able to get their hands on it. But financial company Cowen says (via Apple Insider) Apple iPhones will witness a considerable demand surge in the second half of 2020.

The firm has forecasted that Apple's Services sector won't be affected and will stay strong due to the work from home culture. As for iPhones, Cowen thinks that the Cupertino firm will sell 37 million iPhones in the quarter, which will be a 12% quarter over quarter increase.

For the March quarter, the tech giant is expected to hit $25.1 billion revenue for iPhones by selling some 33 million units.

Apple is expected to launch 5G iPhones next year as per rumours and some analysts. So, the iPhone 12 series that will be coming later this year will possibly be Apple's last major tap on the 4G market before it enters the 5G market. As per Cowen analysts the year of 2021 is "shaping up to be a solid 5G story for Apple."

Meanwhile, Apple is expected to perform really well for the Indian market because of the aggressive pricing. In other countries, Apple iPhones are usually sold at subsidised prices through telecom carriers. In India, the iPhone still remains an aspirational product. That is where launching the iPhone SE (2nd Gen) at a lower price will prove to be a plus point for the company.