Analysts from Citi believe the shipment of the iPhone X will be drastically cut down. A reason behind this forecast is due to the “sluggish” demand met by the latest Apple iPhone model.
The announcement was made in an investor note, where the research firm shared its expectations for the device.
According to the analyst, iPhone shipment is forecast to drop to 14m instead of the original 27m number forecast. This forecast covers the first quarter of the year.
During the second quarter, however, the research firm believes the total iPhone shipment will drop to 40m from 48m.
Part of the reason why the iPhone X failed to capture the interest of its customers could be attributed to its hefty $1,000 price tag. Even though the device is equipped with some noteworthy specs, it looks like this price tag is beyond anyone’s budget at this point.
This isn’t the first time we’re hearing about the forecast of analysts regarding this matter. In fact, several others have expressed the same insight as to why Apple’s iPhone X production has reduced drastically.
Hopefully, the 6.1-inch LCD iPhone device that Apple is rumored to be introducing this year could have a better price tag that would appeal to its customers once again. But until the device is official, we can’t really be too sure if it’s happening at all.