Asia Tech Wire (Sep 9) -- Renowned Apple analyst Ming-Chi Kuo has raised the 2024 shipment forecast for the iPhone 16 series to 88-89 million units.

The report comes as Huawei has already teased that its first triple-screen folding phone, the Mate XT, will be released this week, on the same day as this year's Apple Event.

TF International Securities analyst Ming-Chi Kuo released a report on iPhone 16/Pro series production on Monday.

In the report, Kuo raised his 2024 shipment forecast for the iPhone 16 series from 87-88 million units to 88-89 million units, with the main incremental growth coming from the iPhone 16 standard version.

Kuo expects the iPhone 16 standard edition, iPhone 16 Plus, iPhone 16 Pro and iPhone 16 Pro Max to account for about 26%, 6%, 30% and 38% of iPhone 16 series shipments in 2024, respectively.

He said the iPhone 16 series shipments in August and September "are around 9 million and 16 million units, respectively," with 15-17 million units in stock to support pre-orders.

Versus the iPhone 15 series in the same period last year, Kuo expects the product's shipments in the third quarter of 2024 will grow 10% year-on-year, but in the fourth quarter will decline 5% to 7% year-on-year.