The iPhone X's $1,000 price tag scared everyone away

  • Apple's iPhone X is better known as the $1,000 iPhone.
  • Given news of production cuts, it seems plausible the price scared everyone away.
  • Apple's other new iPhone, the iPhone 8, appears to be selling just fine.

Yet another report suggests that Apple is cutting production volumes of the iPhone X. The price of the phone is probably to blame.

Since launch, consumers I've talked to have always called it the "$1,000 iPhone." It costs even more if you want storage, and friends I've spoken with have suggested they've either settled on the cheaper iPhone 8 or iPhone 8 Plus, or are waiting to see what Apple does next year instead.

It's bizarre, since it's the best iPhone I've ever used.

If the reports of production slashing are true, perhaps people don't see enough value in iPhone X — and its features like Face ID, a new OLED display or fancier cameras — to pay $1,000 or more. I think they're worth the extra money, but I'm also the CNBC gadget writer and not an everyday consumer.

A tad more interesting: A separate report from earlier this week said Apple hasn't changed its iPhone 8 production forecast, which suggests that Apple rightly predicted those sales but expected the iPhone X to be much more popular than it is.

The proof may have been in the pudding, too. Apple announced during its Dec. earnings this week that sales of the iPhone were down over the same period last year, though the average sale price increased.

Perhaps Apple should have cut the cost of the phone by, say, $50 or $100. A $900 or $950 iPhone doesn't have such a scary-sounding ring as the "$1,000" iPhone, does it? Maybe then customers would have been more excited to pick one up.

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