Since the late Apple CEO Steve Jobs introduced the world’s first iPhone in 2007, this year may be the first time that iPhone sales have experienced a serious slowdown. The Tech-giant has had to decrease the price of iPhone XR, iPhone XS, and iPhone XS Max globally through trade-in.
Compared to the past few years, Apple worked out a variety of ways to advertise the new iPhone in 2018, but this does not mean that it prevented sales from slowing down. A report released this week by Citi Research, a research firm of Citigroup, predicts Apple to cut iPhone production by 48% in the second quarter of 2019.
Citi Research analyst William Yang advised clients in the new report that he supposes Apple to cut its iPhone production to 45 million units in three months, a reduction of 5 million units from Citi’s original estimate of 50 million units. Yang concludes that the main reason for the decline in production is that the number of produced iPhone XS Max handsets will be dropped by a huge margin.
In fact, Citi Research is not the only group that tells customers that iPhone production is expected to decline in Apple’s second fiscal quarter. Rosenblatt analyst Jun Zhang also expect Apple’s second-quarter iPhone production to drop by 4 million in three months. Well-known analyst Ming-Chi Kuo, however, lowered the 2018 iPhone sale estimate as well.
Image Via The Boston Globe