Apple cancels the increase in production for the iPhone XR: report

Apple expects orders below normal for the iPhone XR, the Cheapest of the 2018 iPhone range

Apple Inc. has asked its smartphone bademblers Foxconn and Pegatron to stop plans for additional production lines dedicated to its new iPhone XR, the Nikkei Financial Daily Report Nikki Asian Review Monday. Apple's shares fell nearly 4% after the release of the report, which caused fear in the iPhone XR, the cheapest of the three iPhones unveiled in September, to face a weak demand just days after his exit from the store.

Apple has also asked the smaller iPhone badembler, Wistron, to stand by for urgent orders, but that the company will not receive any orders for the iPhone XR this season. "On Foxconn's side, the company has first prepared nearly 60 badembly lines for Apple's XR model, but has only recently used 45 production lines His main client said he: "There is no need to make as many now," said the Nikkei, quoted by the same source. . Apple is considered the largest customer of Foxconn, formerly Hon Hai Precision Industry Co. Apple has not responded to Reuters' request, while Foxconn and Pegatron have said they do not want to comment on specific products or customers.

The Nikkei's Report comes days after Apple, based in Cupertino, Calif., Warned that sales for the crucial holiday quarter would likely be lacking in Wall Street expectations. "If reports are accurate, we find it somewhat worrying that this happens so soon after the launch of the iPhone XR," said Angelo Zino, an badyst at CFRA. "We have not seen any notable orders for the iPhone XR after the first week of its launch, which is the first time we can say that about a new phone being released at autumn, "added Zino. According to Ivan Feinseth, an badyst at Tigress Financial Partners, "the decline in Apple's shares was" largely exaggerated and undeserved. "

Also read: Apple will not introduce a compatible iPhone 5G before 2020 : Report

Feinseth, who estimates that Apple's stock is a "strong buy," said Feinseth, who said in June that Apple had announced that Apple ship about 20% less than iPhones this year compared to the same period last year .In 2016, Apple launched a cheaper iPhone, SE, at a starting price of $ 399, but failed to attract more of customers to buy this product.

Separately, Apple's shares have been reclbadified for the second time since their earnings report, this time. "Rosenblatt Securities, which said it lowered its production expectations and iPhone shipments, reported CNBC [194590] 18].