San Francisco: Apple shares plunged up to 2.8% on Thursday on a report in a Taipei-based newspaper stating that Apple had cut orders for iPhone8 by more than 50 per cent owing to poor sales.
Officially Apple was yet to respond to this news. But the Economic Daily News which quoted analysts did not elaborate on what sort of orders had been cancelled.
The queues outside Apple Stores were shorter than previous years and the growing craze to own “super premium” iPhone X was likely to be the reason.
The various Apple Stores across the world reportedly saw a lot thinner crowd, far fewer than last year’s iPhone 7 launch.
There’s a “more anaemic appetite for the iPhone 8 right now,” Joe Natale, chief executive of Canadian carrier Rogers Communications, was quoted as saying in an Irish Examiner report on Friday.
iPhone X has some hugely incremental features compared to the iPhone 8 and 8 Plus, like less-bezel, facial-recognition system (FaceID), wireless charging and animoji, etc.
Earlier media reports had predicted weak demand for iPhone 8 owing to a “super premium” $999 iPhone X.The latest development confirms earlier reports that iPhone X is cannibalising iphone 8 orders.
There have also been some reports of iPhone 8 batteries problems and phones being left split apart. iPhone 8 and 8 Plus went on sale on September 22. Apple was yet to release figures for the early sales of iPhone 8 and 8 Plus.
The pre-orders for “super-premium” iPhone X will begin on October 27, with shipping starting November 3. The iPhone X will come to India on November 3, starting at Rs 89,000.
The iPhone 8 (64GB) costs Rs 64,000 while the 256GB variant comes at Rs 77,000. The iPhone 8 Plus starts at Rs 73,000 for 64GB while the 256GB variant costs Indian users Rs 86,000.