Apple Inc's shares fell 1.5% in premarket trading on Thursday as brokers and traders speculated over poor demand and cuts in production of iPhone 8, ahead of the November launch of the 10th anniversary iPhone X.
Considering that the iPhone 8 has only been around for about a month now, Cupertino has yet to release any figures regarding the sales of the phone.
The Economic Daily news noted that iPhone 8 model shipments could wind up being only 5 million to 6 million per month in November and December. While iPhone 8 starts at $699 in the United States, iPhone 7 is retailing from $549 after a price cut.
However, with the iPhone 7 still selling well, this could also be a case of the iPhone 8 not offering a compelling enough upgrade for many. Right now, we're in the calm before the storm - that giddy feeling shared by millions of Apple fans will soon turn to frustration as they fight to get their hands on a new iPhone X, which will inevitably be sold out everywhere. In an Apple Store located in Hangzhou, China barricades and security guards had been placed to control what was expected to be a crowd-frenzy line up.
This show-up was not only reported in China, but in some parts of the world as well. Still, it was not as big as the line up in the previous years.
Reports of iPhone X manufacturing delays and problems have been floating around since the early summer, and they've persisted even to today.
Apple is up 37.55% this year. Kuo had also predicted that only 2-4 M units by January 2018.
Face ID only unlocks iPhone X when customers look at it and Apple says it's even created to prevent spoofing by photos or masks.
While the iPhone 8 is now being sold, the iPhone X will be released on the 3rd of November, but the units will still be sold sparingly until next year. The iPhone 8 itself offers a wireless charging feature, which was a new feature from the previous generation iPhones. The iPhone X is our first glimpse at the future of Apple's iPhone lineup and it's packed with new features and new technologies that have never been available before on any smartphone, let alone an iPhone.
- Maple Leafs forward Patrick Marleau plays 1500th National Hockey League game
- Carmelo Anthony: 'I was being pushed out' by the Knicks
- What Are Analysts Suggestions On Oracle Corporation (ORCL)
- NSW unemployment hits five-year low
- Your mind knows when you are dead, finds study
- Messi scores 100th European goal in Barça's win over Olympiacos
- 'Think About Yourself' - Conte Bites Back At Mourinho
- Frank Ocean Beats His Father's $14.5 Million Libel Lawsuit
- Turning Up the Heat on Shares of Dynegy Inc. (NYSE:DYN)
- 43 soldiers killed in Taliban attack on Afghan army camp in Kandahar