Samsung shares take a hit as iPhone X sales slump

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That's expected to not only include an update to the existing iPhone X, but see at least one more OLED handset join the line-up.

Samsung Display is extending its marquee full-screen display design to mid-range smartphones as part of efforts to further improve profitability, according to industry sources on February 20. This week, Nikkei reported that Samsung is now set to make 20 million displays for the iPhone X, but that number could end up falling. The original target was for around 45 million to 50 million iPhone X displays, reports Nikkei.

Samsung's Infinity Display has been one of the major selling points for the flagship Galaxy smartphones in the a year ago.

Flexible OLED allows device makers more leeway in design but has been used mostly for premium models as it is more expensive than the rigid counterpart.

In late January, Nikkei reported that Apple was halving its production target from 40 million units during the first three months of the year to 20 million. However, the news of production cuts has given some investors cold feet.

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Wall Street analysts have been shouting for months that the iPhone X sales were far below expectations. The cost of the average iPhone now sits at $796.

Indeed, the OLED slowdown may not last for long. As well as the iPhone X, Apple also introduced the iPhone 8 and iPhone 8 Plus, which flank the OLED handset in terms of physical size.

It's unclear how this short-term production decision tallies with ongoing reports about Apple's 2018 iPhone range.

Rather than keep the iPhone X as a cheaper option for customers - the same way it still sells the iPhone 7s and 6s - Apple will reportedly put the X out to pasture so as to not undercut the sales of its new model.