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According to a new Wall Street Journal report, Apple has cut production of its 3 new iPhone models in recent weeks. The iPhone XR is particularly affected, according to the newspaper, twice its order has been reduced since its launch in September.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Apple did not immediately answer the question. Variety request for comment, and the company should not be very transparent about its iPhone sales for the holiday quarter: Apple executives said on Wall Street, during its fourth quarter fiscal results call, earlier this month they would stop reporting iPhone sales figures. data-reactid = "19"> Apple did not immediately respond to Variety request for comment, and the company should not show much transparency on its iPhone sales for the holiday quarter: Apple executives said on Wall Street, during the call for fourth-quarter results of exercise, that they would not stop communicating their iPhone sales figures.
Apple's watchers then only have to juggle supply chains to measure the success of the iPhone – and the signals from companies manufacturing key components of Apple's phone have not been good: Three key suppliers cut their quarterly earnings estimates last week, accusing unidentified major customer for order reduction, according to the Journal. And Foxconn, Apple's fourth largest supplier, reportedly cut overtime.
Apple revealed in its latest earnings report that iPhone sales in the fourth quarter, which ended on September 30, remained unchanged from the previous year. The company was still able to generate profits because consumers were attracted by the most expensive models, including the iPhone X, launched a little over a year ago.
The company used the iPhone's growing average sales price to justify a meaningful report. Until now, Apple reported quarterly sales figures accumulated for all its iPhone models, as well as for iPads and other product categories. Apple's chief financial officer, Luca Maestri, said during the fourth-quarter earnings call that the company would stop reporting such unit sales in the future. "A sales unit is less relevant to us today than it was in the past," Maestri said.
But with production expected to decline, investors may not feel comfortable in this "less is more" approach. Apple's stock price fell 3.6% on Monday.
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