Apple slashes iPhone XR production orders as demand fails to meet expectations
06 November, 2018, 11:12 | Author: Rafael Roberts
Apple's market capitalisation (M-Cap) or market value slipped below the $950-billion mark as shares of the iPhone maker fell, news agency Reutersreported. And as a result, Apple's suppliers have canceled plans to ramp up production of the device.
Cutting corners: iPhone manufacturers are not able to make full use of their production capabilities and are closing down unneeded assembly lines.
Yet Nikkei is also reporting that while Apple may be choosing not to initiate extra reserved production lines for the iPhone XR, the company is boosting its production of the iPhone 8 and iPhone 8 Plus this quarter by an extra 5 million units.
It's too early to tell if the iPhone XR will have a similar fate as the iPhone 5C.
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. At Foxconn, only 45 production lines of the planned 60 are now being used.
"This performance management feature is specific to iPhone and does not apply to any other Apple products".
Tied to this is the unexpected news that demand of the previous-generation iPhone 8, which Apple still sells, has jumped.
Apple iPhone XS review - how does the experience compare to Android? And at a starting price of $749, it's the most affordable new iPhone on store shelves. But Apple last week, if you recall, announced that they would no longer disclose iPhone sales as part of their quarterly reports.
This information may help explain why Apple provided a dim forecast for iPhone sales in the current quarter.
Apple said it would stop providing unit sales for iPhones, iPads, and Macs in fiscal 2019.
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