Apple reportedly cancels production boost for the iPhone XR

Report: Apple cancels iPhone XR production boost

"We did not witness any notable order push-outs for the iPhone XR after the initial week of its launch, which is the first time we can say that about a new phone release that took place in the fall", Zino added.

The Nikkei Asian Review reported, citing sources, that the company would halt additional production lines for its new iPhone model.

"We caution investors not to lose sight of the massive metamorphosis on the horizon at Apple being led by the services business", Ives wrote in a research report published Monday. According to sources in the supply chain, smaller iPhone assembler Wistron was asked to stand by for rush orders, but after the decision of cancelling the production boost, it is not likely to receive any orders this holiday season.

Thanks in part to the release of exciting new models like the iPhone XS and XS Max during the third quarter, Apple is still growing its market share in the U.S. according to newly released data from Kantar Worldpanel. Foxconn is the main supplier for iPhone 8 Plus, while on the other side Pegatron is behind the supply of iPhone 8.

Last Friday, Apple shares had fallen sharply, dragging the U.S. tech major's market value below $1 trillion after the company forecast softer-than-expected sales for the holiday quarter and fueled nerves over iPhone sales by saying it would no longer release the figures.

First off, it's hard to know if any of this is true, and now that Apple has stated that it will stop disclosing unit sales, we might never know.

On Friday, Apple's stock declined 6.6%, a day after it provided guidance for the holiday December quarter that fell short of Street expectations. The strong quarter, however, was driven by the older models, iPhone 8 and iPhone X.

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

Interestingly, the iPhone 8 and iPhone 8 Plus have had orders increase by more than 5 million units.

Apple shares dipped as much as 4.5 per cent to hit an intraday low of $198.17 in early deals, from the previous close of $207.48.

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