Apple Seeing New Customer Base Shrink

The company may not meet sales forecasts for the coming year, according to a Wall Street analyst.
NEW YORK, NEW YORK – A Wall Street research firm is reporting the number of people buying an iPhone for the first time is shrinking.

Analyst Toni Sacconaghi from research firm Bernstein said unless the company signs with the world’s largest carrier, China Mobile, or offers an iPhone priced for the developing world, it will not meet forecasts for 2014 and 2015.

Sacconaghi also said despite the dwindling numbers of first-time buyers, the number of people replacing their old iPhones is expected in increase.

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