Key analyst cuts iPhone X estimates, sees production end in 2018

Chinese brands such as Huawei, Oppo and Xiaomi are also moving into Apple's turf

A closely watched Apple Inc. analyst has whacked about 23 percent off his initial projections for iPhone X shipments, citing weak Chinese demand.

Apple should move 62 million units of its most expensive smartphone over its lifetime, down from an earlier estimate of 80 million, Kuo Ming-chi of KGI Securities wrote in a note dated Jan. 18. Kuo’s was the latest in a seriesof downgrades since December, as analysts re-assess the global reception for the U.S. company’s most advanced device. He expects production to stop sometime this year as Apple rolls out newer versions in the second half.

Apple had