Apple Inc. will halve its iPhone X production target for the first three months of the year to around 20 million units, Nikkei reported on Monday, sending its shares down two per cent. The iPhone X, which features an edge-to-edge display and facial recognition technology to unlock the phone, went on sale in November in the United States. Asian supply chain checks suggest that iPhone X orders have been weakening recently, with first-quarter production likely to be about 20 million units, JP Morgan analyst wrote in a note dated Jan. 24. Canaccord Genuity analysts have lowered their second-quarter iPhone shipment estimates to 59.9 million units from 66 million units, citing their own survey. Shares of U.S.-listed Apple suppliers such as Micron Technology Inc edged lower following the report.

Source: CBC News January 29, 2018 15:56 UTC