Apple (NASDAQ:AAPL) Given a $162.00 Price Target at Barclays

According to this rumor, the company is planning to discontinue the first-generation iPhone X later this year when it launches the next version of the device.

Kuo cites a lack of interest from China in the iPhone X as the biggest reason for the cancellation, with the notch that houses the phone's FaceID tech being the main culprit. Put simply, the window during which the iPhone X was available during the 2017 holiday quarter was much smaller relative to the iPhone 8. The company was also able to get unrivaled bang for its development buck, since each model was typically sold for three years (or more, in some cases).

Apple's iPhone naming convention is a bit of a mess, and doesn't fit with the rest of its product lineup.

An earlier report already revealed that Apple has stopped manufacturing the iPhone 6 Plus.

"We revise down 1Q18 and 2Q18 shipments of iPhone X to 18 million units and 13 million units, respectively, lower than the market consensus of 20-30 million and 15-20 million units", Kuo was quoted as saying to MacRumors.

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Apparently the just-as-new and more affordable option, the iPhone 8 Plus is satisfying users in ways the iPhone X can not.

According to the Apple document, "orders for whole unit service inventory of some iPhone 6 Plus models may be substituted to an iPhone 6s Plus until the end of March 2018". And now its January 2018, it has been nearly 2-2.5 months since the launch now and a new report claims that iPhone X will be cancelled.

If you want to guarantee yourself a phone with Face ID, your time might be up midsummer, or you can wait until the release of the newest line in the fall. There will be a dip in sales of iPhone 8 series since people will wait until September for the new release. The business's quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Apple will post 11.15 earnings per share for the current fiscal year.

The iPhone X was released late past year and Apple hoped its new look and smarter tech would reinvigorate sales. In this case, Kuo reportedly expects Apple to launch two second generation iPhone X devices one at 5.8 inches and the other, larger, at 6.5 inches.