iPhone volumes have been plateauing for a few years now, which is why Apple (NASDAQ: AAPL) has been trying to diversify its business into areas like subscription services. With the iPhone 11 Pro using the same overall design for the third consecutive year, expectations for this year's model have been fairly conservative due to mostly incremental updates. The Mac maker is expected to release a redesigned iPhone with 5G support next year, which will likely create a spike in demand.
The handsets that Apple released earlier this month may actually be selling better than expected.
The headline selling feature for iPhone 11 Pro is a triple-camera system. Image source: Apple.