New Delhi:- Apple has been forced to slash production forecasts for the Vision Pro augmented reality headset it launched last month, the Financial Times reported Monday, citing people with direct knowledge of the manufacturing process.

The newspaper said, citing two sources close to Apple and Luxshare, that Apple's sole device maker, the Chinese contract manufacturer Luxshare, will produce less than 400,000 Vision Pro units in 2024. It is reported that preparations are underway. Apple and Luxshare did not respond to Reuter's requests for comment. 

The FT reports that the iPhone maker has asked two China-based suppliers for parts for 130,000 to 150,000 units in its first year, and China-based suppliers for some components for the Vision Pro. He cited two companies.

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Both projections point to a significant production cut from the initial internal sales target of 1 million headsets in the first 12 months, according to the report. The FT reported that the complexity of the headset's design and manufacturing difficulties were behind the target reduction, and plans for a lower-cost version of the device were postponed. 

Vision Pro starts at $3,499 (approximately Rs.2,86,293), more than triple the price of the most expensive headset among Meta's mixed reality and virtual reality devices.

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Last week, Apple's market capitalization topped $3 trillion (around Rs.2,460.966 crore) for the first time since January last year. Investors are betting on the iPhone maker's ability to grow sales while opening up new markets for virtual reality.

Shares of Apple, the world's most valuable listed company, rose 1.3 percent to US$191.99 (roughly 15,750 rupees) in Friday morning trading. 

Apple's market cap briefly peaked above $3 trillion in intraday trading on January 3, 2022, and closed just below that level. 

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According to the user experience Apple had to make some major cuts to the Vision Pro as the customers were facing problems with the fittings of it on the head. Apple and Luxshare had to make the changes due to they had not responded to the Reuters comments.