Canaccord Genuity Morning Coffee on Apple (AAPL), Nokia (NOK) and Research In Motion (RIMM): Dialed In

June 29, 2012 10:21 AM EDT
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Canaccord Genuity Morning Coffee on Apple (Nasdaq: AAPL), Nokia (NYSE: NOK) and Research In Motion (Nasdaq: RIMM): Dialed in.

Canaccord Genuity Technology Analyst Michael Walkley’s June channel checks indicated similar trends with May levels, and mixed overall global sales suggest only slight smartphone unit growth for the June quarter versus the March quarter. Global checks indicated modestly improving smartphone sales in Asia offset by continued soft smartphone sales levels in Europe and the U.S. market. The iPhone 4S remained the top selling smartphone in the U.S. market despite gradual share losses at each carrier with the iPhone 4S now over eight months old. Globally sales for the iPhone were solid, aided by increasing promotions in certain markets. However, Walkley’s checks indicated Samsung and HTC led overall Android smartphones in gaining share from the iPhone during June due to initial strong sales of the Samsung Galaxy S III in Europe and the HTC One series at Sprint (NYSE: S) and T-Mobile in the U.S. Global sales trends remained very weak for both RIM and Nokia. While the Lumia 900 initially sold well at AT&T (NYSE: T), the HTC One X has passed the Lumia for second-best-selling smartphones behind the iPhone. Also, the recently launched Samsung Galaxy S III products have taken increased share from RIM and Nokia in Europe, as both companies continue to struggle in this market.

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