The market for Apple Inc.'s new iPhones - XR and XS - might not have gained enough steam yet.
This week, a Wall Street Journal article said that Apple has cut production of its new iPhone models by a third from around 70 million units it had previously planned with its suppliers between September and February.
Several reports indicate that consumer demand for iPhone XR is falling short of Apple’s expectations. However, demand is strong for iPhone 8 and 8 Plus models, according to a report from the Nikkei Asian Review (although no official confirmation has been made by Apple on this). The XR is the lowest-priced model in the X-series, but still costs $749 – compared to $599 of the older, smaller sized (5.4 inch) iPhone 8 model. The iPhone XS (that has a size closer to the iPhone 8) comes at a relatively steep price of $999 – another potential reason why iPhone 8 might still be strong in popularity amidst the launch of new models from Apple this year.