If you were considering an iPhone X for purchase when the announcement first broke, only to reverse when the phone’s steep price was revealed, you wouldn’t be the only one. Per Bloomberg, the numbers aren’t looking great for Apple’s next generation smartphone.

According to analyst Zhang Bin from Sinolink Securities Co., iPhone X shipments may only be at approximately 35 million units – 10 million less than his initial forecast. JL Warren Capital also believes that shipments from drop from 30 million in Q4 2017 to 25 million in Q1 2018. The main culprit here seems to be the phone’s high price point ($999) versus a relatively few new innovations within the new model.

It seems that the relatively low sales have also affected Apple stock. Since the market reopened on Tuesday, following the Christmas break, Apple’s stock value has dropped over 2.5% from $175.01 at close on Friday to $170.54 at open on Tuesday morning. It’s since taken a further dip, and currently sits at $170.19 at the time of publication.


H/T: Bloomberg