The iPhone XR also managed to get glowing reviews, both from the critics and users, but it is still one of the pricier models, which may be affecting the smartphone demand. It has been reported that the company has halted the additional production of the smartphone.
According to a report by Nikkei Asian Review, the Cupertino, California based company has asked its top smartphone assemblers- Foxconn and Pegatron- to halt the production lines dedicated to the low-priced iPhone.
Apple has informed several of its suppliers that expectations should be tempered for orders of the Apple iPhone XR.
The Nikkei, citing supply chain sources, said Apple had also asked smaller iPhone assembler Wistron Corp to stand by for rush orders, but the firm would receive no planned orders for the iPhone XR this season. And ultimately, after Apple's continued considerable success, I'm not willing to bet that the company got its customer read wrong this soon after the iPhone's triple launch. Whether things change or not, that remain to be seen.
Specifically, Rosenblatt Securities Managing Director and top research analyst Jun Zhang foresees an iPhone X production ramp-up of between 1 and 2 million units for the holidays.
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In Foxconn's case, it prepared 60 production lines for the iPhone XR, but so far has only used 45.
The Californian giant has reportedly upped its unit request for older iPhone models by 5 million. Given the disparity between what we saw being said about the iPhone X a year ago and its 12-month performance, some caution is clearly warranted.
On Tuesday, shares in other Taiwan-based Apple suppliers fell sharply as well.
The report, in Nikkei, states that demand for the iPhone XR has been "disappointing".
"We caution investors not to lose sight of the massive metamorphosis on the horizon at Apple being led by the services business", Ives wrote in a research report published Monday.