Apple Reportedly Halts Additional iPhone XR Production

Report: Apple cancels iPhone XR production boost

It seems that Apple has realised that the demand of the newly launched iPhone XR is not up to the mark.

"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. This has led the company to cancel a so called "production boost" for the model.

Foxconn, the world's largest contract electronics manufacturer and the leading iPhone XR assembler, is apparently using "only around 45 production lines" of a prepared total of 60 to manufacture its share of Apple-requested units.

Indeed, it was widely hailed as the unexpected hit of Apple's 2018 iPhone event.

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Apple shares sank as much as 4.5% Monday following a report that the tech giant has scaled back production orders for its new entry-level iPhone XR model. This means that Foxconn might only produce some more 100,000 units daily to reflect the new demand outlook. Apple's willingness to raise its prices across the board is a testament to just how strong a product the iPhone X was.

It's too early to tell if the iPhone XR will have a similar fate as the iPhone 5C. And at a starting price of $749, it's the most affordable new iPhone on store shelves.

Apple also stoked worries about iPhone sales last week when it said that beginning this quarter, it will no longer break down unit sales for iPhones, iPads and Macs. Apple previously told Wistron to stand by for rush orders, but now the supplier will not receive any orders for the holiday season.

Last Friday, Apple shares had fallen sharply, dragging the U.S. tech major's market value below $1 trillion after the company forecast softer-than-expected sales for the holiday quarter and fueled nerves over iPhone sales by saying it would no longer release the figures. The company forecasted fiscal-first-quarter sales of $89 billion to $93 billion versus the average analyst projection of $93.02 billion. It's also possible that more people are opting for other iPhones, leaving Apple to modify its original plan.

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