Apple's production of the iPhone X may slow to a trickle this quarter.
According to Fast Company, the California-based tech giant will make only 8 million iPhone X units in its second quarter of the year, in response to lukewarm sales for its $1,000 top-of-the-line phone. Apple may be trying to sell off the accumulated inventory of unsold iPhone Xs, Fast Company added.
In terms of phone units, 8 million units is a blip. Compare that to the 216.8 million iPhones Apple sold in its fiscal 2017 year, according to Statista, and the 54 million iPhones that analysts collectively believe Apple .
Apple CEO Tim Cook said in February that the "iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November," but sales may have already peaked. In fact, smartphone sales have been soft across the entire phone industry, with suppliers -- including , which supplies the iPhone X's OLED screen -- .
But for Apple, the world's most profitable smartphone brand, and second-largest phonemaker, dipping sales numbers may send a message that customers as aren't as interested in thousand-dollar phones as Apple had hoped.
Apple didn't respond to a request for comment.