Shares are down 0.78% to $US166.57 as The Wall Street Journal confirmed previous reports saying that Apple has told its suppliers to halve production targets to 20 million units in the first quarter of the year. And on Thursday, we'll all get a look at how well the iPhone X did during the 2017 holiday season when Apple reports its fiscal first-quarter results. These three are expected to arrive later this year and hold priority for the company as one of them is the second-gen iPhone X, while other two are also supposed to feature Face ID tech and more new features. The company is still expected to ship updates to its ARKit augmented reality platform, and is reportedly also looking to revamp e-book and audiobook reading with a new Books app.
Despite all the hype for Apple Inc.'s 10th-anniversary iPhone, it seems consumers don't love it as much as the company had hoped.
According to Ming-Chi Kuo, the most famous analyst with KGI Securities when it comes to Apple, the Cupertino-based giant will not sell iPhone X at lower price as it will hurt its other products in the lower-priced premium segment.
Kuo reckons it will account for around 50% of Apple's new iPhone sales in 2018/19, though he does not know what the handset will be called yet.
Apple, one of the biggest name in the smartphone business saw its share prices tank by 2% at NASDAQ on Tuesday following reports of the cutdown of its flagship model.
Analysts surveyed by FactSet expect Apple to report 79 million iPhone unit sales in the December quarter, up from 78 million in the year-ago period.
Apple To Cut OLED Screen iPhone Production?
What impact the disappointing iPhone X sales will have on the company's planned 2018 models is unknown at this stage.