Canaccord Genuity Morning Coffee on F.T. Smartphone ETF (FONE): Dialed In

Canaccord Genuity Morning Coffee on F.T. Smartphone ETF (Nasdaq: FONE): Dialed in.

Canaccord Genuity Technology Analyst Michael Walkley’s August channel checks indicated slow smartphones sales ahead of the iPhone 5 launch with below-normal seasonal back-to-school sales. However, his checks indicated strong sales of the Samsung Galaxy S III smartphones at all four leading U.S. carries. Overall, September quarter smartphone sales are tracking in line with his expectations for modestly improved sequential global sales growth. Upcoming smartphone launches by Apple (Nasdaq: AAPL), Nokia (NYSE: NOK), Google’s (Nasdaq: GOOG) Motorola, Sony (NYSE: SNE), and LG suggest improved LTE smartphone sales during Q4/12, and he anticipates much stronger global smartphone sales during Q4/12. Globally, Walkley’s checks indicated modestly improving smartphone sales in Asia, offset by continued soft smartphone sales levels in Europe and the U.S. Global sales trends remained very weak for both Research In Motion (Nasdaq: RIMM) and Nokia. Sales were weaker for the Nokia Lumia 900 at AT&T (NYSE: T) and all four major carriers are experiencing ongoing minimal BlackBerry. Additionally, the Samsung Galaxy S III gained share from both RIMM and Nokia in Europe. Walkely sees stronger Walkley smartphone sales during Q4/12 and improving 28 nm supply which should result in stronger than normal seasonal sales for smartphone OEMs and leading suppliers Qualcomm (Nasdaq: QCOM), Avago (Nasdaq: AVGO), and Skyworks (Nasdaq: SWKS).

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