The XR model borrows its looks from the iPhone X and features an all-screen glass and aluminum design with a 6.1-inch Liquid Retina LCD display.
"We did not witness any notable order push-outs for the iPhone XR after the initial week of its launch, which is the first time we can say that about a new phone release that took place in the fall", Zino added. Apple is widely considered to be Foxconn's biggest customer, but other stocks of its suppliers were hit worse.
Apple's Asian supplier and assembler stocks fell on Tuesday on a media report that the iPhone maker had told its smartphone assemblers to halt plans for additional production lines dedicated to its new iPhone XR. The fact that it still offered Face ID, the Apple A12 Bionic processor, and a camera - albeit single, not dual - the same as that of the iPhone XS also impressed reviewers. Apple has also asked smaller iPhone assembler Wistron to be on standby for rush orders.
The latest iPhone may be one of the hottest flagships this year, but it seems like Apple has miscalculated demand for the product if a report from Nikkei is accurate.
Apple announced it has taken $62.9bn (£48.2bn) in revenue for Q4 2018, an increase of 20 per cent ($52.5m) year-on-year. Apple has ordered around 5 million more units of iPhone 8 and iPhone 8 Plus from suppliers, raising the total order to 25 million units this quarter, said the Nikkei report.
Apple did not respond to Reuters' request for comment, while Foxconn and Pegatron each said they would not comment on specific customers or products.
While Apple had great expectations for the iPhone XR, it's now ordering more iPhone 8 and 8 Plus models from its partners.
At Rs 76,900, the iPhone XR is still on the expensive side, and maybe some cashback, EMI and buyback offers could help Apple sell significant number of units. According to the report, demand is still strong for those models and Apple not expects to produce 25 million iPhone 8 and iPhone 8 Plus units during the fourth quarter.