Here's why we might not see an iPhone SE 2 this year

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So even if Apple is cutting iPhone X production to 20 million units, that's still likely more than 60 million iPhone sales for the second quarter, which would be a huge bump over the 50.76 million it sold a year ago.

Apple has reportedly notified suppliers that it will cute its iPhone X production target for the first quarter by 50 percent to around 20 million units.

Apple is scheduled to report its first-quarter results this Friday AEDT.

Lastly, Kuo hinted at a third iPhone that would be available at a lower price point that the iPhone X models.

Apple's latest smartphone featuring a 6.1-inch LCD display expected to hit the market, later this year.

Nikkei also notes that the inventory for the iPhone X is "starting to rise", after a period of shortages. Other than the next generation of the iPhone X at 5.8-inches, rumors are that it will be joined with a 6.1-inch iPhone X SE and a 6.3-inch iPhone X Plus.

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The report says that the major drop in iPhone X shipments is because of the longer replacement cycles in China.

These enormous cuts in production, don't suggest that the iPhone X has flopped. So far, Apple is preparing to launch three new iPhone models until the second quarter of 2018. Groups in both the Senate and the House of Representatives have questioned Apple, and the company faces more than 45 class-action lawsuits from consumers.

With components deliveries delayed, Apple had struggled to keep up with demand for the iPhone X immediately after its launch.

If you were counting on a new iPhone SE arriving this spring, maybe it's time to start making alternative plans.

According to an FT.com report, analysts are expected the global tech giant to report a record net income of at least $19 billion.

OLED displays are produced by Apple's biggest competitor, Samsung. For instance, the LCD panel will only allow for bezels as small as 0.5mm all around, which could be a bit thicker than those in the OLED-based models.

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