An attendee uses a new iPhone X during a presentation for the media in Beijing, China October 31, 2017.

Thomas Peter | Reuters

An attendee uses a new iPhone X during a presentation for the media in Beijing, China October 31, 2017.

Apple‘s stock dipped slightly in premarket trading Monday after a report said it would halve production for the iPhone X in the first three months of 2018.

The tech giant told suppliers it would cut its production target for the phone to 20 million units, following slower-than-expected sales in the year-end holiday shopping period in Europe, the U.S. and China, the Nikkei reported Monday.

The company’s latest phone was released to the market in November for $999.

Shares of Apple were down by around 0.5 percent in U.S. premarket trade. Apple was not immediately available for comment when contacted by CNBC.

Source

NO COMMENTS