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According to many sources with firsthand knowledge of the manufacturing process, Apple has been forced to make significant adjustments to production projections for its augmented-reality headset Vision Pro, which was released last month.
According to the tabloid, Luxshare, Apple's only assembler of the gadget, was planning to produce less than 400,000 Vision Pro devices in 2024, citing two people close to Apple and Luxshare.
Apple and Luxshare did not reply to a request for comment from Reuters.
The iPhone manufacturer has requested two China-based suppliers for enough components for 130,000 to 150,000 devices in the first year, according to the Financial Times, citing two China-based suppliers of certain Vision Pro components.
According to the source, these predictions suggest a considerable reduction in production from a previous internal sales target of 1 million units of the headset in the first 12 months.
The FT said that the scaling down of ambitions is due to the intricacy of the headset design and production issues, and that plans for a more cheap version of the gadget have been put back.
The Vision Pro will cost $3,499 (approximately Rs. 2,86,293), which is more than three times the price of Meta's most expensive mixed and virtual reality headset.
Apple's market capitalization surpassed $3 trillion (roughly Rs. 2,46,09,660 crore) this week for the first time since January last year, as investors banked on the iPhone maker's capacity to expand sales while exploring new sectors such as virtual reality.
Apple, the world's most valuable publicly traded business, was up 1.3 percent at $191.99 (almost Rs. 15,750) in morning trading on Friday.
On January 3, 2022, Apple's market capitalization briefly surpassed $3 trillion in intraday trading before completing the day slightly below that level.