Citigroup: iPhone sales are still down – to cut down production

iPhone XS and XS Max iOS

Android fans are not really happy at the pricing system of Apple but the iPhone has a huge market that swallows its products irrespective of the price. The Android camp has seriously upgraded and we now have some flagship Android phones which are up to par with the latest iPhones and are available for half the price. For a couple of weeks now, analysts have been looking into the sales and production of iPhones and according to Citigroup, the performance of the new iPhones are poor.

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According to Citigroup’s investment research report, Apple’s iPhone production forecast for the fourth quarter was reduced. The overall iPhone production in the fourth quarter of this year will reach 72 million units, lower than the previous forecast of 77 million units, mainly because the new iPhone demand is quite low. According to Citi’s forecast, the overall iPhone sales in the second half of the 2018 iPhone will reach 119 million units. In comparison, iPhone sales in the second half of 2017 were 130 million units.

In addition, Citigroup lowered its iPhone XS Max sales forecast for the first quarter of 2019 by 48% and lowered its iPhone XR and XS sales estimates by 20%. For Apple, although the sales of the old iPhone have increased, this is not enough to make up for the sales of the new iPhones.

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