Apple Plans To Cancel Its Flagship iPhone X By Summer

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KGI's analyst reportedly believes Apple will ship about 18 million unit of its iPhone X during the first quarter of 2018, which would apparently represent a letdown for the company that postured the device as its premium offering. He claims that the production will be ceasing in the summer. (NASDAQ:AAPL) rumor mill today is news of the iPhone X being discontinued. The memo mentions that the upgrade program will run through March 2018, which is about when new iPhone 6 Plus batteries are set to come in. With the heavy demand for iPhone 6 and iPhone 6 Plus batteries, Apple has probably run through much of its remaining inventory of those phones.

Though this is all coming from reliable sources, we'll have to wait and see if Apple actually does away with its most controversial smartphone yet.

According to notable Apple analyst, Ming-Chi Kuo of KGI Securities, Apple may discontinue the iPhone X next year, rather than knocking the price down from $999.

Shortly after the release of the launch of the iPhone X across Australasia, Apple sent out a statement saying that demand for the phone was "off the charts" in response to early concerns the phone wouldn't be as popular as previous models. The 6.5-inch iPhone X Plus model would alleviate concerns about the usable screen area, reports Apple Insider. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.87 by $0.20.

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Kuo still has some positive news for Apple, though.

As KGI uses the normal calendar, while Apple's fiscal calendar is a quarter ahead of that, we can expect the mentioning of weakening iPhone X sales in the company's guidance for fiscal Q2.

Kuo also believes there will be a modest 5 per cent growth in overall sales during the first half of 2018.

Credit Suisse analysts told their clients that the iPhone X production for the January-March quarter had been lowered to just 19 million units.

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Apple typically keeps older models in stock, to give customers a wider range of choice.

"At 61%, the three newest iPhone models together represented a somewhat smaller share of total U.S. iPhone sales in the quarter, compared to 72% for the iPhone 7 and 7 Plus a year ago", CIRP co-founder Josh Lowitz said in a press release. Kuo did not talk about the iPhone X sales during the 2017 holiday shopping season. Retirement for the 2015 iPhone 6s is also expected. The market was anxious that the phone's high price would weaken the demand once the euphoria was over.

US-based JL Warren Capital is predicting shipments of just 25 million units.

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