The iPhone X is Apple’s most expensive smartphone ever, with the top-spec model retailing for as much as £1,149.
It’s got a slick all-screen design and a sci-fi unlocking system that works by scanning your face.
But it costs £300 more than the standard iPhone 8, and everyday Apple fans aren’t willing to fork out the extra cost.
And the share of new iPhones models sold in the first three months of this year has dropped to 60% – from 78% in 2015.
That means older iPhone models – like 2016’s iPhone 7 – are being bought up rather than the latest Apple handset.
It’s probably because these slightly aged Apple handsets are cheaper.
The news of a struggling iPhone X may come as a surprise to some: the handset received rave reviews from tech bloggers.
And there’s no questioning that Apple’s priciest blower is one of the best smartphones ever made.
But there are repeated reports that Apple is finding it hard to sell them.
Last Thursday, key Apple supplier TSMC predicted it would make $7.8billion in revenue this quarter – around $1billion down on analyst estimates.
The company blamed “weak demand” in the mobile phone sector, and experts say the iPhone X is the problem.
GBH Insights’ Daniel Ives said investors have “gone into full panic mode”.
“Supply chain checks out of Asia indicate that June iPhone shipments are trending well below expectations,” he explained.