Report: iPhone 4S sales slowing in developing market

Analyst T. Michael Walkley of Canaccord Genuity told investors in a Thursday research note that iPhone 4S sales are slowing in "certain developed markets," according to a report by AppleInsider. Some of this slowdown can be attributed to a fresh crop of dual-core and quad-core Android phones coming out soon. Walkley also notes that some customers may be waiting for the next generation iPhone to arrive.

Walkley writes, "For example, our March channel checks at Verizon indicated a stronger mix of LTE smartphones, and we believe Verizon has strong June quarter promotions planned for LTE Android smartphones." Despite this projected slump, Walkley believes global sales of the iPhone will remain strong and expects Apple to announce it sold 32.6 million iPhone handsets in Q2 2012.