Projected sales of Apple's iPhone for the present quarter have been revised upwards by investment firm Susquehanna, on the back of sustained high demand for the iPhone 4S.
Susquehanna upped shipment estimates for the first fiscal quarter of 2012 from 27.1 million handsets to 30.3 million, Cnet reports. During the whole fiscal year, which for Apple started in October, the Cupertino based company is expected to sell 111.4 million smartphones, compared to the previous prediction of 104.4 million iPhones shipped.
Apple's latest iPhone 4S, is the main reason for the increased sales forecast. With the 4S Apple adopted an aggressive strategy, both domestically with unprecedented availability at three top carriers immediately after release, and worldwide with a rollout in more than 70 countries just a couple of months after the flagship iPhone hit the market.
The success became obvious even after the first days of the iPhone 4S' availability, with the handset breaking previous sales records. However, one reason for concern is the recent drop in popularity in European markets, where customers are perhaps more budget conscious due to the current difficult economic conditions there.
"The revisions are based on positive sell-through data combined with recent supply-chain checks, which suggests that earlier component constraints have largely been resolved and build plans have increased for the fourth and first quarter," Jeffrey Fidacaro, Susquehanna analyst, explained in a note to investors.