Apple Reportedly Halts Additional iPhone XR Production

The iPhone XR may not be selling as well as Apple hoped.                  Ian Knighton  CNET

Starting at $749, Apple's new iPhone XR has been touted as a wallet-friendly option for those who want a new Apple smartphone. With that, Apple shares extended losses to a second consecutive day.

According to the Nikkei Asian Review, Apple has instructed its top smartphone assemblers (Foxconn and Pegatron) to pause plans for additional production lines.

Apple had asked Wistron, one of its smaller manufacturing partners, to "stand by" in case iPhone XR demand exploded. Apple planned to sell 20 million of these two during this quarter, but that number has now jumped to 25 million.

"For the Foxconn side, it first prepared almost 60 assembly lines for Apple's 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", the Nikkei quoted one source as saying.

The company also warned last week that overall sales for the holiday season would likely be lower than expected.

Apple announced it has taken $62.9bn (£48.2bn) in revenue for Q4 2018, an increase of 20 per cent ($52.5m) year-on-year.

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Apple's stock, which was down 0.5% in premarket trading on Tuesday, has dropped for five consecutive weeks, something that hasn't happened since 2012.

Taiwanese assembler Pegatron Corp fell almost 4 per cent and rival Hon Hai Precision Industry Co Ltd (Foxconn) fell 2.5 per cent. Apple is widely considered the biggest customer for Foxconn.

Apple on Monday did not respond to a Reuters request for comment.

Ives wrote that he sees the end of unit sales disclosure as "another major step forward in getting the Street to value and look at Apple as a services driven company for the next decade [plus] built on the heels of its iconic iPhone product success".

The end of reporting on unit sales comes as Apple has been seeing little growth in units in its iPhone business. Given the disparity between what we saw being said about the iPhone X past year and its 12-month performance, some caution is clearly warranted.

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