Home / News / Best Buy points at the iPhone X for a whopping $100 million revenue loss

Best Buy points at the iPhone X for a whopping $100 million revenue loss

Apple’s later-than-usual iPhone X launch may have cost Best Buy $100 million in lost revenue, suggested the electronics retailer in all but a name. During its quarterly results press release statement for investors, Best Buy mentioned that it would have beat the Wall Street consensus estimate of $9.36 billion, if it wasn’t that “a major phone launch did not happen until November.” 

Instead, Best Buy hauled in $9.32 billion, also marred by hurricane season, and other natural disasters which shaved a few cents per share off its results. Apple announced the iPhone X on September 12th, but didn’t launch it until the beginning of this month, and is still experiencing weeks of lead times for ordering from its website. Still, the $100 million figure that Best Buy cites may give anyone a pause, and that’s just one retailer for a short period of time. No wonder Apple is predicting record quarters going forward.

Source of news : Phonearena

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