iPhone 5 sales plummeting as rumors spreading for iPhone 5S

iPhone 5 sales are plummeting even more as the results from a Jefferies analyst is shown. The sales are falling much faster than what the analysts have expected.

Peter Misek noted that the Cupertino-based tech giant has cut down their production of iPhone 5 to thirty million from an original plan of forty million. For the month of March, Apple Inc. is said to be cutting the production of their sixth generation smartphone.

With the production cuts, Misek is speculating that this slow down may be because Apple Inc. is making way for the rumored iPhone 5s production.

iPhone 5 sales plummeting as rumors spreading for iPhone 5S

Furthermore, the seventh generation iPhone gadget could be launched early on this summer. There are also rumors that Apple Inc. will be coming up with fun colors for this next iPhone. Additionally, the company is also speculated to release a less expensive iPhone produced from plastic at the price of $300.

While Apple is not making any comments about this, which the company always do in any upcoming event or gadget, rumors suggest that the next iPhone could be featuring organic light emitting diobes (OLED) technology.