Based on a report from The Information, Apple Inc. (NASDAQ:AAPL) has drastically reduced Vision Pro mixed reality headset production since the summer, will likely stop the manufacture of the current version by year-end. The choice might show that Apple has enough inventory to satisfy present demand, hence concentrating on creating a second, less costly variant slated to hit market next year.

Attributed to Vision Pro's $3,500 price tag and restricted app availability, sources in July indicated that sales of Vision Pro were unlikely to exceed 500,000 devices in 2024. Revealed during Apple's June 2023 developer conference, the gadget was the most important product release the firm had in ten years.

Apple did not answer comments inquiries right away. In a recent interview with The Wall Street Journal, CEO Tim Cook, however, voiced optimism for the future expansion of the product and stressed over time improvements. "Everything gets better over time and it too will have its course of getting better and better," Cook remarked.On October 31, Apple is scheduled to unveil its fiscal Q4 results; analysts project earnings of $1.55 per share on revenue of $94.26 billion.

This article first appeared on GuruFocus.