Top Apple insider reveals details surrounding Apple's brand new 6.1-inch iPhone

Rejig in sales strategy: Ecommerce discounts on iPhones may soon be over

Apple (AAPL.O) shares fell as much as 2.6 percent after the Nikkei reported the company will halve the production target for its flagship iPhone X this quarter.

Apple's total production target for the lower priced models (iPhone 8, 8 Plus, and 7) is expected to stay at 30M units.

Ming-Chi reports that all three of these newer iPhone X's will have bigger batteries, but there will be some options missing from the iPhone X SE device. The battery will be around 8.5 percent larger than that of the iPhone 8 Plus, which has a 5.5-inch screen, and it will lack 3D Touch. That works out to 20 million units, which is slightly better than KGIs 18 million estimate.

It comes as the company prepares to report record-breaking profits owing to early sales of the new smartphone.

The stakes were (and continue to be) high for Apple's high-end iPhone X. LG Display is rumored to make 15-16 million OLED panels for the 6.5-inch iPhone X Plus this year. Apple was not immediately available for comment when contacted by CNBC.

The rumor mill has already been churning out details about Apple's second-generation iPhone X, its larger sibling iPhone X Plus, and the LCD iPhone.

'Our survey work indicates iPhone X sales were strong during the December quarter but sales appear slower in January, more in line with normal seasonal trends, ' they wrote in a note.

The iPhone X features facial recognition and wireless charging, but it is widely regarded as lacking in groundbreaking new technologies compared with previous models. The LCD version is expected to come in the price range between $650 and $750 and feature a 6.1-inch display. KGI points out that Chinese users are now adhering to their existing phones for a long time, and specifically the notch on the top of the iPhone X's Super Retina display has turned away some potential customers in the region.

Shares of Apple were down by around 0.5 percent in US premarket trade.

According to the report, Apple has increased margins for exclusive Apple franchise stores in India to 5.7 per cent from 4.5 per cent.