Apple Slashes iPhone X Production As 'Slow Device Scandal' Kills Sales
Apple’s shares plummeted on Monday following revelations
Apple has instructed its suppliers to drastically cut the production on the new iPhone X according to to the Asian-based outlet Nikkei.
The reduction, which will knock down the number of iPhone X being manufactured 20 million units for the first quarter, is allegedly a direct response to the extremely low products sales as many speculate is because of the company remotely throttling old devices.
Apple’s shares plummeted on Monday following the publication of Nikkei’s report, according to CNBC. The famous Apple analyst Ming-Chi Kuo’s evaluation has anticipated that d iPhone X will be “end of life” by Summer 2018.
Apple recently received an Avalanche of lawsuits from angry customers which could end the corporation's reputation forever. Many critics had accused the tech giant of slowing down the old iPhones as part of a shady strategy to force customers into upgrading to new devices.
The daily caller reports: The stock dropped roughly 1.9 percent at one point early Monday, and is down an overall 4.9 percent since Jan. 22, reports CNBC, equating to, in the past week, a $45 billion dip in total shareholder value.
And it wasn’t just Kuo’s evaluation that likely contributed to the decline, as J.P. Morgan analyst Narci Chang also voiced the view that “high-end smartphones are clearly hitting a plateau this year.” Chang predicted, similarly to Kuo, that manufacturing of the iPhone X could be cut in half in just a few months.
After being asked if the $1,000 iPhone X is too expensive for “the average American” on ABC’s “Good Morning America,” Cook argued that it is “a value price, actually.”
Researchers also declared the iPhone X the most fragile iPhone in Apple’s history.
Apple did not respond to The Daily Caller News Foundation’s request for confirmation or further detail in time of publication.