Apple cancels iPhone XR production boost due to low demand

Report: Apple cancels iPhone XR production boost

In September, Apple launched three new iPhones, the premium iPhone XS and iPhone XS Max that start at Rs 99,900 and go all the way up to Rs 144,900.

Apple had initially informed Foxconn to set up almost 60 assembly lines for the iPhone XR. The iPhone 8 and iPhone 8 Plus may have been announced in 2017, but they're still seeing strong demand it's claimed. The decrease translates to 100,000 fewer units daily from Taiwanese supplier Foxconn, and likely, similar cuts at another Taiwanese supplier, Pegatron.

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.

Ives reaffirmed his $310 price target for Apple's stock, representing more than 50% upside to the current stock price.

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.

While Apple had great expectations for the iPhone XR, it's now ordering more iPhone 8 and 8 Plus models from its partners. And if you liked smaller devices, the iPhone XR is actually the second-worst Apple phone to replace your old phone with - the iPhone XS is narrower, at 2.8 inches versus 2.98.

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Apple itself doesn't publish precise sales figures for the various models, but the message from suppliers is clear: the iPhone XR isn't selling as well as expected.

Interestingly, the iPhone 8 and iPhone 8 Plus have had orders increase by more than 5 million units. 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.

Shares of Apple's suppliers across Asia were hit on Tuesday after the company suggested it would miss earnings targets.

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

Meanwhile the iPhone 8 has profited significantly from the weakness of the iPhone XR.

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