The tech giant told suppliers it would cut its production target for the phone to 20 million units, following slower-than-expected sales in the year-end holiday shopping period in Europe, the US and China, the Nikkei reported Monday.
The company has instructed its suppliers to cut production to 20 million units from 40 million for the first three months of this year, Nikkei, the Japanese news agency, reported.
Apple is said to be maintaining its existing production target of 30M units across the iPhone 7/Plus and 8/Plus ranges.
Apple's iPhone X circuit board manufacturer: Murata Manufacturing Co. who will reportedly begin "slowing down production" in response to the news after steadily churning out the flagship's exclusive MetroCirc board since early January. Ming-Chi Kuo, an analyst from KGI Securities is shining some light on the 2018 line up bearing the iPhone X name. The shares sank $3.11 to $168.40 in Monday's late afternoon trading, translating into a almost $60 billion loss in the company's market value since the stock last peaked.
Should an iPhone SE sequel launch in 2018, Kuo predicts it would get a faster processor and a lower price. Of course, given its bigger physical size, the iPhone X Plus is also anticipated to house up to 25 percent larger battery capacity of 3,300 up to 3,400 mAh compared to the iPhone X. But Apple's new Indian head Michel Coulomb plans to do away with these discounts, according to an Economic Times report.
But Apple likely performed strongly in the October-December quarter, given that the iPhone X did not launch until November. There are indications that the original iPhone X could reach its end of life around mid-2018 and this effective means that new iPhones could be in pipeline. The OLED models, on the other hand, will feature a 6.0 to 6.1-inch screen and another with a 6.4 to 6.5-inch display.