Today Bank of America today published a research note indicating that iPhone 7 hadn’t moved electronics retail spending as much as iPhone releases had in years past. 

The bad news is that while September was supposed to be a strong month for tech-related spending, on the back entirely of just one product, the newly released iPhone 7, BofA did not see any notable spike in associated sales. To wit:

  • The latest version of the iPhone was released in September, which likely contributed to a gain in electronic store sales, following the prior four months of contraction.
  • However, we did not see a spike in electronic store sales akin to prior releases of Apple devices. It may be a reflection of the iPhone 7 or perhaps that the trend in electronic store sales ex-iPhone is sluggish.
  • Moreover, we may see an additional boost to electronics sales in October from iPhone 7 sales.

How do the analysts not account for Apple’s biggest rival, Samsung, scrapping tens of millions of units due to battery fires and the associated consumer fallout during the same time period? Samsung is taking a $2.3B writedown – this is a big deal.

Sure some folks are picking up other devices including the iPhone but not everyone is. Nowhere in the analysis does BofA mention Samsung or the Note 7.


FTC: We use income earning auto affiliate links. More.

Check out 9to5Mac on YouTube for more Apple news:

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

About the Author

Seth Weintraub

Publisher and Editorial Director of the 9to5/Electrek sites.

Seth Weintraub's favorite gear