Apple, the US tech giant, seems to be in a big trouble as the demand for its flagship device iPhone 8 has not materialized. On Thursday, the shares of the company fell by around 3 percent which has made the investors question the release strategy of its latest flagship devices, reports Reuters.
According to some media reports, Apple has cut iPhone 8 production by as much as 50 percent due to the weak demand, making the company’s tenth iPhone anniversary a bit harsh.
The wireless carriers in the US and Canada have reported slow third-quarter in regards to iPhone 8 upgrades. While some expect the pace to be picked up upon the arrival of iPhone X but the price of the new handset may put off many interested buyers.
The company has failed to create the iPhone frenzy that we are so used to see after the launch of the company’s new devices. The main reason for such a drastic reaction may be that the company apart from few tweaks has failed to provide something new in the iPhone 8 instead user can get the most out their iPhone 7 by just upgrading their software to iOS 11.
Apple will be releasing its iPhone X on 3rd November and while we are hearing rumors about the limited supply of the device, let’s hope the tenth-anniversary smartphone will help make up the slack.