Reuters reported that Apple expects total iPhone shipments this year to be 80 million - a steep decline from the 100 million Apple had planned for the same time last year.
Nikkei reported earlier the Cupertino-based company plans to launch three phones, two of them with an OLED panel, while one sticking with an LCD.
Apple's shares were down 2 percent in Friday morning trading. As for the latest news, Apple has not made any comments so we'll be updating you guys on the latest. Investors were already spooked about the "lower than expected sales" of the iPhone X in the first quarter of 2018. The iPhone X's high starting price of $999 has enabled Apple to hit record average selling prices for iPhones, and reports have conflicted about whether this year's top models will be equally or less expensive.
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"Apple is quite conservative in terms of placing new orders for upcoming iPhones this year".
The report does also point out that Apple was probably overly optimistic about the sales of its iPhone X when it placed orders previous year.
"As the improvements made to the iPhone each year become increasingly marginal it may become more hard to convince consumers to pay up for the latest model, when an older generation device is effectively just as good", Cordwell added. Dialog Semi is down 42 per cent in 2018 after Apple, its biggest customer, chose to scale back orders.