Apple's iPhone 8 Production Reportedly Cut In Half

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iPhone 8 and 8 Plus Production Will Reportedly Drop Nearly 50% When iPhone X Launches

We've said from the beginning Apple could be facing a serious problem with the iPhone 8, 8 Plus, and iPhone X. As demand for the first two has failed to materialize, and with Apple X shipments still far below what the company will need to meet demand, Apple's decision to launch the iPhone X could whack its finances.

Described as overpriced and lacking new features retailers and carriers in Australia who were banking on increased demand for the new iPhone 8, have now cut back their second and third quarter revenue forecasts. It was also suggested that the iPhone 8 was produced at a lower quantity than the iPhone 7, explaining both the low sales and the low expectations. I expect the baseline iPhone 8 to get a price cut to $599 next year and the baseline iPhone 8 Plus to be cut to $699 once the 2018 iPhones are released. In an Apple Store located in Hangzhou, China barricades and security guards had been placed to control what was expected to be a crowd-frenzy line up. Vantage Financial Partners Ltd. Inc. acquired a new stake in Apple in the 2nd quarter valued at $400,000.

This show-up was not only reported in China, but in some parts of the world as well.

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Daniel Ives, chief strategy officer at GBH, predicts only 20 to 25 percent of iPhones sold over the next 12 to 18 months will be an iPhone 8 or iPhone 8 Plus, according to Reuters.

Economic Daily News says this is the first time in the iPhone's history that production has been cut so early in the cycle. During the same period in the previous year, the business earned $1.42 EPS.

"Apple is hoping the later availability date for iPhone X will not affect iPhone 8 sales this quarter", Ian Fogg, mobile and telecoms analyst at IHS has previously said. KeyCorp also issued estimates for Apple's Q1 2018 earnings at $4.06 EPS, Q2 2018 earnings at $2.83 EPS, Q3 2018 earnings at $2.31 EPS, Q4 2018 earnings at $2.46 EPS and FY2018 earnings at $11.68 EPS.

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For now, the iPhone 8 is being sold from 929 CAD, while the 8 Plus is sold at a price of 1059 CAD.

The impact of consumers switching off purchasing the new Apple 8 is now hitting home at Apple with the Company forced to cancel component orders with suppliers. The upcoming iPhone X will start at around 1319 CAD, and pre-orders for the iPhone X will begin on 27 October.

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