Are you one of the proud new owners of the iPhone XS, XS Max or XR? You're probably enjoying all the new improvements - wireless charging, the edge-to-edge display, faster A12 Bionic processor, and, of course, Face ID.
However, news is emerging that these new flagship smartphones are falling short of market expectations and it's forcing Apple to cut its production orders.
Is this a cause for concern in Cupertino? Read on and let's find out.
Apple is cutting its sales forecasts
Several reports from Apple's suppliers are saying that the company is cutting its sales forecasts and it has reduced its orders for the iPhone XS, XS Max, and XR.
This strongly indicates that Apple is struggling to gauge the demand for its new iPhones due to the general slowdown of the global smartphone market.
Due to the production cuts, it appears that Apple's suppliers are also increasingly getting more frustrated with the company's unpredictability.
iPhone XR orders, in particular, were reportedly cut by at least up to 33% from the 70 million units Apple projected to sell through the holiday season.
Not surprisingly, Apple shares dropped and were 2.65% lower on Monday after Apple's suppliers put out warnings about the lower than expected demand for the new iPhones.
Did Apple see this coming?
This is not the first time that Apple reduced its production orders for the new iPhones. About the same time last year, similar cuts were also made for the iPhone 8 and the iPhone X.
But did Apple anticipate the global smartphone slowdown? Judging by the way the company has increased its prices across the board and its decision not to report its device unit sales anymore, it does appear that Apple has been preparing for the worst.
This means that even with weaker demand and fewer iPhones sold, the company will still keep its bottom line and reap the same amount of profits anyway. But the question is - for how long?
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Along with an impressive array of upgrades to the iPad, Macbook and Mac Mini they also announced some significant price increases.
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