Apple’s Asia suppliers fall on report iPhone XR production boost cancelled

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Apple's market capitalisation (M-Cap) or market value slipped below the $950-billion mark as shares of the iPhone maker fell, news agency Reuters reported.

In a unusual plot twist, Nikkei went on to cite Apple's decision to shift its focus towards "requesting more of the older iPhone 8 and iPhone 8 Plus models", which are about 20% cheaper than the iPhone XR ($599 vs. $749 base price).

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A Nikkei report citing sources claims that Apple has asked Foxconn and Pegatron to put a halt on additional production lines for the iPhone XR.

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". Apple had introduced the iPhone XR, made of aluminum, along with two other models, the XS and XS Max, in September this year. However, the Taiwanese manufacturer has utilised just 45 production lines so far. According to Nikkei, this means that Foxconn will be producing almost 100,000 units less every day based on the new forecasts available. On the other hand, the iPhone XR did not appeal to the consumers as much as the company thought it would.

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Apple shares fell almost 4 per cent after the report, which fueled concerns that the iPhone XR, the cheapest of three iPhones Apple unveiled in September, was facing weak demand just days after it hit shelves. "The utilization for the XR production is not reaching its maximum capacity now", Nikkei's source stated. This is not the first time, five years ago, when Apple launched the iPhone 5C with plastic back, it had cut production orders a month after its launch, which fuelled speculation of weak demand for the model.

Apple iPhone XS review - how does the experience compare to Android? Now its primary customer has advised it does not require more. Originally Apple had ordered 20 million of the last generation model but has since raised the order to 25 million.

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