A new wave of speculation claims that Apple has plans to cut prices of the iPhone 8, iPhone 8 Plus, and iPhone X in 2018.
It appears that the reason for the upcoming speculated price adjustment might be the recent reports concerning the 2017 iPhone lineup's sales performance. Even though technology news outlets noted that demand for the iPhone X could barely keep up with the available stocks, numbers taken from market analysts reveal that its sales figures failed to meet the Cupertino firm's projected targets.
Overall, the iPhone X, iPhone 8 Plus, and iPhone 8 are reportedly doing well in some markets. However, some of the key markets considered by Apple are not doing so well based on their sales reports. It is suspected that the steep price of the latest iteration of the iPhone continues to push potential buyers to stay on the fence for the meantime.
On the other hand, consumers view the 8 Plus and the 8 as minor upgrades compared to their top-shelf sibling. Design-wise, the said models look exactly like the previous year's versions, except for some hardware difference like wireless charging.
Price Cut Strategy
It might have been a great start for Apple when they launched the iPhone 8 Plus and iPhone 8 back in September. The company then followed with the second stage of its strategy with the release of the iPhone X in November. Preorders for the latter model sold out almost immediately and demand was at an all-time high before the holiday season.
However, as competition increased due to the introduction of other new models form their respective brands, demand began to dwindle down for the iOS smartphones.
The rumored price cut aims to recapture consumer's interest and increase the demand for the new iPhones. The company's goal is to sacrifice revenue and hopefully recover via increased shipments of its products.
Price cuts appear to be a normal process for Apple, but these tend to happen once their newer models hit the shelves. If the market trend continues with low demand for the latest iPhone lineup, an adjustment could possibly happen early next year.
Some rumors suggest that the announcement could be made during one of the upcoming WWDC keynotes for 2018.
On the other hand, Apple's purported struggle with the sales of the iPhone X, iPhone 8 Plus, and iPhone 8 might be difficult to believe as Tim Cook receives a pay raise. The CEO was recently awarded a substantial compensation for the firm's overall performance this fiscal year compared to the last. Nevertheless, an early price cut could push sales even further if it does push through next year.