Apple introduced the iPhone X earlier this year. Ever since its availability in November, the handset has been in short supply, pushing the shipping estimates to as far as five to six weeks in most markets across the globe. Things did improve after the company ramped up production to meet the demand, reducing the shipping times for the handset.
According to a report from Bloomberg, several analysts have lowered iPhone X shipment projections for the first quarter of 2018, citing weak demand at the end of the holiday shopping season.
Sinolink Securities Co. analyst Zhang Bin said that Apple may ship only 35 million iPhone X units in the first quarter, 10 million less than his previous estimates.
JL Warren Capital LLC also said that iPhone X shipments may fall to 25 million in the first quarter of 2018, down from 30 million in the fourth quarter of 2017. The analyst says that Apple has reduced orders for the device to its suppliers. The firm suggested in a note to clients that the drop is mainly due to "iPhone X’s high price point and a lack of interesting innovations".
According to analysts from Cowen & Co., customers are reportedly opting for the cheaper iPhone models as the company failed to add features which can justify the $999 price tag of the handset.
Similar reports originated from Taiwan Economic Daily News reported that Apple has reduced its sales forecasts to 30 million from 50 million for the first quarter of 2018.