While the 4.7-inch iPhone 6s on some U.S. carriers is still available for delivery on the September 25th launch date, nearly all of the larger, 5.5-inch iPhone 6s Plus models are now scheduled to deliver in 3-4 weeks for new orders. According to KGI Securities, this is not entirely due to high demand for the largest iPhone model. According to a new note from the firm, the constraints are actually due to supply problems with the 6s Plus’s backlight hardware:
We believe Radiant is receiving rush orders, because Minebea is having production issues. This tells us that Radiant is more skilled at producing backlight module for 6S Plus given its accumulated abundant experience supplying the backlight module for iPad mini (a similar size to 6S Plus). To accelerate availability, we believe Apple has been transferring substantial 6S Plus backlight module orders to Radiant. As such, we estimate the company’s iPhone 6S Plus backlight module orders to increase by 70-80% to 4-5mn units in September, boosting its order allocation from 35-45% to 70-80%.
Nonetheless, KGI says that it expects Apple to have between 1.5 and 2.5 million 6s Plus units ready to go for the September 25th ship date. Earlier this morning, Apple said that new iPhone pre-orders are currently outpacing the success of last year’s iPhone 6 and iPhone 6 Plus pre-order period. This, of course, is not entirely surprising as this year’s rollout includes China, while last year’s China launch happened a bit later than the first wave.