Apple shares fell nearly 4 percent after a report signaled that its new, lower-priced iPhone XR might not be selling as well as expected.\u2026<\/b>
\nApple shares fell nearly 4 percent after a report signaled that its new, lower-priced iPhone XR might not be selling as well as expected.
Japanese news service Nikkei reported Monday that Apple has asked its Chinese suppliers including Foxconn to halt plans for additional production lines of the newly released iPhone XR, whose price starts at $749 instead of $999 and up for the other new iPhones.
The report noted that Apple\u2019s directive translates to about 100,000 fewer iPhone XRs being made each day.
\u201cFor the Foxconn side, it first prepared nearly 60 assembly lines for Apple\u2019s XR model, but recently uses only around 45 production lines as its top customer said it does not need to manufacture that many by now,\u201d the Nikkei quoted one source as saying.
Apple\u2019s iPhone XR, which boasts the iPhone X\u2019s edge-to-edge display, albeit using older LCD pixels instead of the X\u2019s high-resolution OLED screen, was widely expected to fuel a massive wave of upgrades from users of the iPhone 6S or earlier models.
The Nikkei report comes days after Cupertino, Calif.-based Apple warned in its quarterly earnings report that sales for the crucial holiday quarter would likely miss Wall Street expectations.
Apple also stoked worries about iPhone sales last week when it said that it that beginning this quarter, it will no longer break down unit sales for iPhones, iPads and Macs.
\u201cIf the reports are accurate, we do find it somewhat disturbing that this would take place so early after the launch of the iPhone XR,\u201d Angelo Zino, an analyst at CFRA, said of the Nikkei report.
\u201cWe did not witness any notable order push-outs for the iPhone XR after the initial week of its launch, which is the first time we can say that about a new phone release that took place in the fall,\u201d Zino added.
Apple shares were down 3.6 percent in Monday afternoon trading, at $200.14.
With Reuters<\/p>\n

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