Breaking News: iPhone 16 Resale Prices Collapse Within Hours of Trading, Jefferies Report Reveals
In a shocking turn of events, iPhone 16 resale prices plummeted on the first day of shipment, with dealers in the Mongkok area halting purchases of most models by early afternoon. This stark contrast to last year's performance of the iPhone 15 indicates a potential decline in demand in China, according to Jefferies analysts.
Apple Inc's new iPhones are likened to stocks in Hong Kong during the initial weeks of shipments, as the city serves as a major hub for smartphone resale markets. However, the launch of the iPhone 16 saw one of the worst trading days for a new iPhone, with premiums turning negative within hours of trading.
The softer demand for the iPhone 16 is attributed to various factors, including a lack of significant hardware innovations and lower trade-in values. Despite this, Jefferies remains optimistic about the potential for increased consumer demand with the upcoming launch of Apple's AI services in the U.S.
In conclusion, the rapid decline in iPhone 16 resale prices highlights the volatile nature of the smartphone market and serves as a cautionary tale for both investors and consumers. It is essential to stay informed about market trends and innovations in order to make informed decisions about your finances and technology purchases.