As per reports,theiPhone X isn’t selling as well as Apple had expected, with the company having cut up to 50 percentof the bezel-less flagship’s production.The California-based giant is now hoping that its 2018 lineup of new iPhone models is able to bring a hefty amount of revenue. Do remember that Apple reported its highest quarterly revenue everand a portion of that belonged to the iPhone X sales.

However, according to people familiar with the matter, the figure was below Apple’s expectations and the company plans to make it up with three brand new models this year.Apple is pinning its hopes on the upcoming generation, as it has three new models. Question is, will it be successful?

Latest Survey Shows That Only 22 Percent of People Have Intentions of Upgrading to Apple’s Latest iPhone Models

The survey was carried out by Loup Ventures and detailed that iPhone’s user upgrade would be similar to the last year, and a supercycle doesn’t seem likely. A mere 22 percent of current iPhone owners intend to upgrade their phones this year, a reduction of 1 percent from 2017. However, the figure marks an increase of 15 percent from 2016.

More worrisome for Apple is the fact that just 51percentof the survey participants said that they will upgrade to the 2018 generation, and 18percentsaid that they plan to purchase an iPhone X. 28percent of the respondents said they will be considering an iPhone 8.

These numbers do not rule out the possibility of a supercycle, although it is very unlikely. Loup Ventures says there is still a possibility of a supercycle as the survey was done before the news about iPhone X Plus started circulating. However, it doesn’t seem plausible as a single model cannot sell in the numbers required to create a supercycle.

“The good news is a more predictable iPhone growth, albeit at a lower rate, should be a positive for AAPL’s multiple. We expect investors will increasingly view the iPhone hardware business as a subscription business, given the upgrade patterns are becoming more predictable. This is also consistent with current Street expectations of 4% iPhone unit growth in FY18 and 2% in FY19.”

Apple is planning to introduce three iPhone models this yearwhich includesa 5.8-inch iPhone X successor, a 6.1-inch LCD iPhone which will be more affordable than the iPhone X, and a 6.5-inch iPhone X Plus which would be 25percentbigger than the $999versionthat is being sold right now.

News Source: Loup Ventures