It’s no big secret that demand for Apple’s most hyped, fanciest and costliest iPhone ever has nosedived in recent months, causing significant financial losses not just for the Cupertino-based mobile device manufacturer, but key suppliers like Samsung and TSMC as well. Then again, it’s way too early to forget about the rampant success of the iPhone X during the holiday season.

No matter how badly sales may have declined since January, it definitely feels a little extreme to already call the $999 handset “dead.” Especially based simply on TSMC’s latest forecast, as well as the questionable claim that “consumers are turning their backs on high-priced smartphones.”

The hyperbolic quotes belong to Neil Campling, a top analyst and researcher from international banking and financial group Mirabaud. Campling essentially believes iPhone X production has been halted for good, with leftover inventory to be “burned off” in the next few months, and no replenishment in sight.

That means Apple will replace the X in the fall instead of keeping it around at a lower starting price, possibly holding on to the 8 and 8 Plus as affordable alternatives to the two new OLEDs and single next-gen LCD version expected out in September. That’s something other analysts have forecasted too, but we highly doubt the iPhone X is already “dead” and buried.

Besides, Campling’s view that the excessive price alone caused the X “flop” seems to suggest its sequels would all be more affordable, which doesn’t feel very likely.

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