Apple Stock Tank Amid Questions About Demand for the iPhone XR

Report: Apple cancels iPhone XR production boost

And this report flies in the face of some analysts predictions who see the iPhone XR becoming Apple's top-selling model. This has led the company to cancel a so called "production boost" for the model. The iPhone XR has received glowing reviews from users and the press, but the phone is still one of Apple's pricier models-which may be affecting demand. Reportedly, Apple has instructed three separate suppliers to either reduce or completely eliminate production expectations for the new device.

Foxcomm originally planned to use 60 production lines for the handset but will only use 45 now. As per the source, this means Foxconn would be producing 100,000 few units of the iPhone XR daily than initially estimated - a decline of around 20-25 percent.

This move has signaled disappointing demand for the XR, as Apple told Foxconn and Pegatron to halt plans for additional production lines dedicated to it.

Meanwhile, Pegatron, which is another key partner of the Cupertino-based tech giant, has had to "suspend plans to ramp up production", now "awaiting further instructions", according to supply chain sources that are typically right about these things.

As for Wistron, Apple has asked the smaller iPhone assembler to stand by for rush orders, but supply chain sources claim the company will in fact receive none for the XR this holiday season.

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In contrast, the iPhone XR's $750 starting price made it seem a relative bargain. For example, early this year they indicated that iPhone X had sold poorly over the holiday season. 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.

According to a report by Nikkei Asian Review, the most affordable iPhone of 2018 is definitely not doing as well, sales-wise, as Apple anticipated it would.

This information may help explain why Apple provided a dim forecast for iPhone sales in the current quarter.

If this all sounds familiar, you're probably thinking of the Apple iPhone 5C, which Apple launched five years ago.

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