Barclays Capital’s Ben Reitzes this afternoon offers an updated outlook on the dominance of the smartphone offerings of Apple (AAPL) and Samsung Electronics (005930KS), reiterating an Overweight rating on shares of Apple, but writing that he takes seriously competition from Samsung’s recently introduced “Galaxy S III‘:
When Samsung launches a new smartphone, we take it seriously. With the Galaxy SIII Samsung created a smartphone loaded with new features which should drive substantial demand. In general, reviews have been positive and highlight the phone’s additional features beyond the traditional Android phone, for example “S Voice,” TouchWiz and TecTiles. Criticisms include the usefulness and ease of use of new features. Reviewers also highlighted how the handset is slightly thinner than the iPhone. Also, our colleague SC Bae adjusted his Galaxy S III shipment estimates for C2Q12 down to 6.5 million from 8 million due to production shortages, but he raised his C3Q12 forecast to 15 million units (was 14 million) and maintained his C4Q12 forecast of 15 million.
For Apple, given a pause in purchases as customers await the iPhone 5 we estimate that iPhone sales will fall 20% q/q in CQ2 and maintain that level in CQ3
Apple shares this afternoon are up 96 cents at $569.80.
When Samsung launches a new smartphone, we take it seriously. With the Galaxy SIII Samsung created a smartphone loaded with new features which should drive substantial demand. In general, reviews have been positive and highlight the phone’s additional features beyond the traditional Android phone, for example “S Voice,” TouchWiz and TecTiles. Criticisms include the usefulness and ease of use of new features. Reviewers also highlighted how the handset is slightly thinner than the iPhone. Also, our colleague SC Bae adjusted his Galaxy S III shipment estimates for C2Q12 down to 6.5 million from 8 million due to production shortages, but he raised his C3Q12 forecast to 15 million units (was 14 million) and maintained his C4Q12 forecast of 15 million.
For Apple, given a pause in purchases as customers await the iPhone 5 we estimate that iPhone sales will fall 20% q/q in CQ2 and maintain that level in CQ3
Apple shares this afternoon are up 96 cents at $569.80.
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