Apple Shares Dip Amid iPhone 8 Sales Concern

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So far, we've already heard reports that many fans are holding out for the release of the iPhone X, the company's high-end phone this year, ahead of the iPhone 8 Plus, which would otherwise have been the high-end offering.

Apple shares fell 2.3 percent following the news at the market's open in response.

Such a severe production cut less than two months into the iPhone 8 cycle is unlikely, given Apple's typically conservative production planning, but not impossible.

This year, Apple can market the iPhone X at a starting price of $999 while still letting users who want the latest iPhone technologies, such as the improved cameras and upgraded internals, to buy new devices (the iPhone 8 and 8 Plus) at familiar price points of $699 and $799.

There has been questions for a while now as to whether Apple complicated its device range too much, and whether the iPhone X simply costs too much.

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The production cuts are a major blow for the brand-new iPhone 8, which earlier in the week was reportedly being outsold by last year's iPhone 7. Launch demand for the iPhone 8 may not have been weak, but also saw much shorter lineups at some stores. Meanwhile, an optimistic report this week from research firm Gartner said the iPhone X will help increase smartphone sales in 2018.

There are no concrete iPhone 8 sales numbers available - Apple didn't respond to our request for the data - but outside sources have provided anecdotal evidence that the device hasn't been well received by consumers.

The company cut orders to its manufacturing partners for the iPhone 8 by more than 50 percent, according to a report from Tapei publication Economic Daily News that was picked up by Reuters.

Even though the sales of the iPhone 8 were doing well for a while, the sales started to drop during the release on the 22nd of September. The iPhone X will be Apple's first iPhone to have an edge to edge screen and will not have a home button.

A picture paints a thousand words, or so the maxim goes, but in the case of the iPhone X its paints an ugly picture of Apple's previous smartphones. The lower-than-expected number of people buying the iPhone seems to suggest that not many people wanted the new iPhone.

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