“Apple Inc. shares edged higher Wednesday after CEO Tim Cook insisted the iPhone XR remains its most popular product even as reports suggest the tech giant will slash production for new models this quarter amid slowing demand,” Martin Baccardax reports for TheStreet.
“The Nikkei Asian Review said Wednesday that Apple has asked suppliers to cut production for the iPhone XS and the XS Max, as well as the iPhone XR, by around 10% for the three months ending in March, a reduction it said would take overall iPhone production to between 40 million and 43 million units for Apple’s fiscal second quarter,” Baccardax reports. “Apple sold around 52.2 million units over the same period last year, but said in its November earnings call that it will no longer break out iPhones sales data from its broader revenue reporting.”
“Apple CEO Tim Cook, however, insisted that the iPhone XR ‘has been the most popular iPhone every day, every single day, from when we started shipping, until now,'” Baccardax reports. “I mean, do I want to sell more? Of course I do, of course I’d like to sell more,” he told TheStreet’s founder, Jim Cramer, on CNBC’s Mad Money program late Tuesday. “We’re working on that. But in terms of the product itself, it’s an incredibly innovative product. It has a bunch of advanced technologies in it from the chip with the neural engine to security embedded to an edge-to-edge liquid retina display, the first in the industry, longest battery life ever in an iPhone.””
Read more in the full article here.
MacDailyNews Take: As expected.
As Apple intended. The iPhone XR is the X-class iPhone for the masses! – MacDailyNews, October 16, 2018
Why would the hoi polloi choose the 5.8-inch iPhone XS when they can get the 6.1-inch iPhone XR? They don’t know the difference between LCD and OLED, they have no idea what 3D Touch is, and it looks/works pretty much the same to them – plus it comes in colors (that they’ll immediately cover with a case; no matter, colors sell). — MacDailyNews, September 20, 2018
Apple VP: iPhone XR has been company’s best-selling model every day since it launched – November 28, 2018