Apple’s iPhone 4S is no longer the top selling smartphone in the United States for the first time since it’s launch last October. Samsung Galaxy SIII has taken over this position for three of the four major U.S. carriers. With iPhone 4S only hanging onto AT&T for now, will Apple lose its smartphone title for good? According to Canaccord Genuity analyst, Michael Walkley, no. Walkley believes that “come October, the next-generation iPhone will reclaim the crown and remain there even if the court doesn’t ban Samsung’s devices”.
“We believe Apple’s industry-leading software ecosystem and leading hardware expertise will lead to a strong multi-year product cycle for its key products. We believe Apple is well positioned for very strong F2013 sales and earnings growth driven by new product introductions, including the recent refresh of the MacBook Air and Pro series, an LTE iPhone 5, iPad Mini, and potentially iTV in C2013. We reiterate our BUY rating and $797 price target.”
While it’s not any surprise that a new phone would surpass an older phone, it will be interesting to see if Walkely’s predictions are right should a court ban Samsung devices. Furthermore, the launch of the iPhone 5 in the coming month will add new competition.