<News Alert> AAPL – Apple to launch Vision Pro XR headset on 2 February, its first new hardware category since 2015
- Apple’s Vision Pro, its inaugural XR device, debuts on February 2nd in the U.S., representing the company’s first new hardware category since 2015.
- Estimated 2024 shipments for Vision Pro range between 400,000 to 500,000 units, with Apple also developing a lighter model.
- The Vision Pro, potentially Apple’s largest launch since the 2007 iPhone, is set to significantly impact the XR market and boost industry sentiments towards Apple and its suppliers. We reiterate our BUY call on AAPL (TP: US$208.7)
Apple to start the sales of Vision Pro on 2 Feb 2024
Apple announced on its official site yesterday that Vision Pro, the company’s first XR device, will be available for sale on February 2nd in the U.S.
This marks the first new hardware category Apple has introduced since its smartwatches in 2015. The company is currently hosting hundreds of retail store employees at its headquarters to train them on how to use and sell the device. Market projects the shipments of the new headset in 2024 to be between 400,000 and 500,000 units. Additionally, Apple is already working on designing a lighter version of the Vision Pro.
Improving sentiment towards Apple and Vision Pro’s suppliers
We anticipate that this will be Apple’s biggest product launch since the original iPhone in 2007. Vision Pro is expected to capture a significant share of the XR device market, currently dominated by Meta Platforms. Despite the limited shipment forecast for 2024, we believe the Vision Pro will boost the penetration of XR devices in the market by drawing consumers’ interest in these products. Android manufacturers are also following the trend and plan to launch their premium XR devices in 2024. Although the revenue contribution from this new product to Apple’s expected revenue in 2024 is projected to be less than 1%, we expect this contribution to become more significant after the launch of the lighter version of Vision Pro in the coming years. We also anticipate that participation from Android peers, driven by the fear of missing out and the increasing penetration of XR products, will boost demand across the entire XR dvice supply chain in the mid-to-long term. AAPL, are expected to benefit from this trend and the improving sentiment towards XR business and its suppliers. We reiterate our BUY call on AAPL (TP: US$208.7)