Apple iPhone 16 is now on sale, and T-Mobile's CEO says it's selling better than last year's

By Weston Blasi

T-Mobile Chief Executive Mike Sievert says it's 'nonsense' that the iPhone 16 line's preorders have been underwhelming

'Not only good, but better than last year.'

That was T-Mobile US Inc. (TMUS) Chief Executive Mike Sievert, asserting that sales of Apple Inc.'s (AAPL) iPhone 16 have been stronger than initial sales were last year for the iPhone 15, during an interview this week with CNBC's Jim Cramer.

"People are buying Pros, they're buying Maxes, so they're buying up the food chain, and they're buying at a greater rate than last year," Sievert said.

Apple unveiled the iPhone 16 line on Sept. 9, and the new smartphone lineup has been available for preorder ever since the announcement. Stores began carrying the iPhone 16 on Sept. 20. The iPhone 16 Pro starts at $999, while the iPhone 16 Pro Max starts at $1,199.

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Consumers can buy iPhones directly from Apple, as well as through carriers like T-Mobile, AT&T Inc. (T) and Verizon Communications Inc. (VZ) Carriers often subsidize phone prices to get consumers to trade in their old phones and commit to service contracts.

Sievert addressed remarks by analysts suggesting that early iPhone 16 sales had been underwhelming, which he described as "nonsense."

Apple announced that the iPhone 16 line would be its first built for the company's generative artificial-intelligence technology. In a hardware demonstration earlier this month, CEO Tim Cook said AI would allow users to create texts and images with a simple text prompt. The AI features will be available in beta form on iOS 18.1 in October, the company said.

The slow rollout of these AI features could mean a longer tail for iPhone 16 sales, Sievert noted.

"I have a feeling this cycle will be lengthened a little. You know why? The AI features don't come out for a little while," he said.

Apple, which did not respond to request for comment, does not disclose the specific number of iPhones sold each year.

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-Weston Blasi

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09-21-24 2339ET

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