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After the first weekend, more people are using an iPhone X than were doing so after the first weekend of the iPhone 8, according to data from mobile engagement firm Localytics.

Why it matters: The iPhone is the biggest driver of sales and profits for Apple and demand for the high-end iPhone X is being closely watched by investors.

Expand chart
Reproduced from Localytics

"So far, it seems that Apple's risk in introducing a much higher priced model (iPhone X devices are available for either $999 or $1,149) is paying off, as the iPhone X grabbed 0.93% of the overall market share for iPhones after the first weekend of sales," Localytics said. Combined, the iPhone 8 and 8 Plus accounted for 0.8 percent market share after their first weekend.

However, Localytics said the launch trails other recent launches including that of the iPhone 6, 6S and 7.

While this may seem slightly concerning, it's important to consider that there are significantly more iPhones in the market today than in 2014. While the iPhone 6 was a major upgrade at the time, it did not pack the punch that Apple has introduced with the iPhone X. If Apple's prediction that the 2017 holiday quarter will be one of its best ever comes true, it's likely we will see adoption of the X grab more of the overall market share than its predecessors did after the first months in the market.

The data reflects the number of people that have turned on and started using apps on the device rather than just those who have bought or received a phone.

Separately, Loup Ventures put out a report Sunday saying that the iPhone X appears to be sold out at Apple Stores nationwide, though lead times on orders have shortened somewhat.

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