Nikkei reported on Monday that Apple has notified suppliers that it will halve its iPhone X production target for the first quarter to around 20 million units. Slower than expected sales in the holiday shopping season in Europe, the United States, and China was cited for the reason. According to the report Apple is expected to maintain a total production target of 30 million units for lower-priced models such as the iPhone 8, 8 Plus, and 7.
Stock prices fell at market open in reaction to the news.