Apple's total production target for the lower priced models (iPhone 8, 8 Plus, and 7) is expected to stay at 30M units.
Following "disappointing holiday season sales", Nikkei reports that Apple has informed suppliers that as of March the company will be cutting iPhone X orders from 40 million units to around 20 million, a multi-billion dollar blow to Apple's supply chain who are seeing iPhone orders slashed in half.
The iPhone X features facial recognition and wireless charging, but it is widely regarded as lacking in groundbreaking new technologies compared with previous models.
While sales of the iPhone X have been strong in the US, the device has reportedly failed to catch on as much globally. It will start slowing production soon. It will also be a setback for Samsung's display business, which has enjoyed strong performance so far.
Kuo added that the refreshed iPhone X and iPhone X Plus will be nothing more than a tentative upgrade to the existing iPhone X, with the main exception being that the Plus variant will ship with 4GB of RAM - instead of 3GB - and either a 3,300mAh or 3,400mAh battery.
The iPhone X is unlike anything Apple has ever made in the product line's 10-year history. Apple India halved distributor margins to 1.7-2.5 per cent and gave distributors specific areas of responsibility to protect those margins, says the report. The shares sank $3.11 to $168.40 in Monday's late afternoon trading, translating into a almost $60 billion loss in the company's market value since the stock last peaked. The iPhone X may have been the best-selling smartphone of the Christmas quarter, but sales momentum was apparently lost after that. With the home button gone, this essentially signals the end of the era of the design that Apple kept throughout all the models of the iPhone from the first one back in 2007 till the iPhone 8 released in 2017. The quarterly results will be announced Thursday, U.S. time.