IPhone XR isn't selling as well as Apple anticipated, production reportedly cut

Report: Apple cancels iPhone XR production boost

So Apple is canceling plans to boost production over the holidays.

Apple did not immediately respond to Reuters' request for comment.

While Apple had great expectations for the iPhone XR, it's now ordering more iPhone 8 and 8 Plus models from its partners.

Cutting corners: iPhone manufacturers are not able to make full use of their production capabilities and are closing down unneeded assembly lines. As per the source, this means Foxconn would be producing 100,000 few units of the iPhone XR daily than initially estimated - a decline of around 20-25 percent.

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Pegatron apparently faces a similar situation, suspending plans to ramp up production of the iPhone XR and simply awaiting further instructions from Apple at this time. It's possible, for instance, that overall iPhone demand is down and Apple is reducing its production costs. The company is a key assembler for iPhone XR, and it has also secured orders for iPhone XS Max, added the sources.

Tied to this is the unexpected news that demand of the previous-generation iPhone 8, which Apple still sells, has jumped. And at a starting price of $749, it's the most affordable new iPhone on store shelves.

The company's stock drop - pushing Apple's market cap below $1 trillion - comes after shares closed down 6.6% last Friday, to $207.48 per share, as investors reacted to the September quarter earnings results with lower iPhone unit sales and weaker-than-expected December quarter revenue guidance. Apple has ordered around 5 million more units of iPhone 8 and iPhone 8 Plus from suppliers, raising the total order to 25 million units this quarter, said the Nikkei report.

This, combined with the rapid rise of China-based handset makers like Huawei, may also help explain why Apple will no longer provide iPhone unit sales figures: The firm is no longer the number two player in the smartphone market and may fall to number four or five in the coming year by unit sales.

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