Apple has dramatically cut iPhone production, jolting suppliers and sending its stock price sliding, according to reports, as it attempts to nail the balance of smartphone supply and demand.

That shift to more premium pricing had been telegraphed by the iPhone X, which launched in 2017 and debuted Apple’s newest design language among other features.

While unit sales of iPhone had been fairly stable, average selling price – or ASP – had been up markedly, with Apple making more money for each device sold.

Still, shifting focus from unit sales to ASP hasn’t been entirely smooth sailing.

Reports back in early November indicated Apple had notified its supply-chain that it would not be expanding production on the iPhone XR, despite apparently initially planning to do so.

Apple’s argument at the time was that the numbers were “less relevant” to performance.

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