A boost of 1 percentage point to export growth is no small matter, especially for the currency market, which closely tracks export growth numbers, says Lu Ting, chief China economist with Bank of America Merrill Lynch, in a recently published research note.
So the launch of iPhone 6 will surely provide a boost to China exports when these products are shipped out of China for global end users, Lu
According to Lu
, Bank of America Merrill Lynch
expects 37 million and 63 million iPhones 6 to be produced in China in the third quarter and the fourth quarter of this year, respectively.
After deducting the iPhone 6 sold within China, there should be around 83 million units to be shipped out of China, which will translate into 25.2 billion U.S. dollars in total export value given an estimated sales price of 607.5 U.S. dollars per unit, he
Using the average monthly China exports data in 2014 as proxy, Lu
estimated iPhone 6 shipments to add about 1 percent to China monthly exports for the rest of this year.