Premium mobile phone maker, Apple expects to ship 80 million new model iPhones this year, down 20% from what it had planned at the same time last year.

The California-based firm has asked suppliers to make about 20% fewer components for the three new iPhones it plans to launch in the second half of 2018.

This figure is compared to last year’s plans for its iPhone X and iPhone 8 models, according to Japanese financial daily Nikkei on Friday, citing industry sources.

The report added to concerns that consumer passion for new editions of the iconic smartphones may be cooling after years of scorching growth.

Such cool-off has sent shares in Apple and many of its major suppliers lower and weighing on global stock markets.

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“This news needs to be viewed in the context of Apple probably being overly optimistic last year in relation to the prospects for its new phones.

“It leaves it with excess inventory in the first part of this year,” Atlantic Equities analyst James Cordwell was quoted as saying.

“At least part of this lower order forecast probably relates to Apple just being a little more realistic,” heh added.

Apple sold 217 million iPhones, including its older models, in the fiscal year ended Sept. 30. It does not break down the figures by model and is still manufacturing large numbers of earlier versions of the phone.

Some analysts said they already expected Apple to sell fewer phones this year than last as global demand for phones tightens and competitors eat into its sales.

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