Apple Halts iPhone XR Supply Over Weak Demand

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Apple's new iPhone XR has apparently gotten off to a slow start.

Citing unnamed sources, the Nikkei Asian Review reported on Monday that the company would halt plans for additional production lines for its new iPhone model, sending shares of the smartphone manufacturer's suppliers across Asia lower. The fact that it still offered Face ID, the Apple A12 Bionic processor, and a camera - albeit single, not dual - the same as that of the iPhone XS also impressed reviewers. Apple previously planned 20 million units for the older iPhone models this quarter, but raised the figure to 25 million units, the individual said. Weakened demand for smartphones globally might not hurt Apple's revenue too much, but suppliers could feel the strain.

At the lowest level of the day, Apple shares have registered a loss of 10.8 per cent in two days.

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Apple CFO Luca Maestri added: "We concluded a record year with our best September quarter ever, growing double digits in every geographic segment".

Investors continued doing damage to Apple's stock price on Monday, following the company's controversial move to end the disclosure of unit sales data for its iPhone, iPad and Mac businesses.

Broadly speaking, the original report regarding a drop in iPhone production illustrates why Apple understandably wants to keep iPhone sales close to its chest.

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The end of reporting on unit sales comes as Apple has been seeing little growth in units in its iPhone business. The XR model borrows its looks from the iPhone X and features an all-screen glass and aluminum design with a 6.1-inch Liquid Retina LCD display.

The site compared the average monthly after-tax wages of residents in the largest cities in 61 countries to the local cost of the base iPhone XS, XS Max, and XR to come up with how many work days it would take someone in each region to afford one.

Apple did not respond to Reuters' request for comment, while Foxconn and Pegatron each said they would not comment on specific customers or products.

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