Apple might cut new-model iPhone production by 20 percent this year
The company has reportedly asked parts suppliers to make fewer components.
There might be fewer iPhones heading to Apple Stores this year.
Apple reportedly expects to ship 20 percent fewer new-model iPhones this year compared with its plans at the same time last year.
Based on Apple's orders to parts suppliers, the company plans to ship 80 million of the three newest iPhone model, Reuters reports, citing Japan's financial daily, the Nikkei.
Apple's shares were down 2 percent in Friday morning trading. Analysts suspect that the $1,000 iPhone X may be hurting demand, even though it was the best-selling smartphone in early 2018.
Apple didn't immediately respond to a request for comment.
Rumors have suggested that Apple will release three new iPhones in September -- 6.5-inch and 5.8-inch OLED models, as well as a cheaper 6.1-inch LCD option. An analyst forecast that the LCD model will cost $600 to $700, addressing the iPhone X's higher price. One model might even have three cameras to help with AR features.