According to analyst Ming-Chi Kuo, we may not be getting a new Apple product in the year 2024. After he predicted last month that a fourth-gen iPhone could be delayed or canceled, Apple canceled production and shipment plans for the phone.

The reason the phone is getting axed could be that Apple's lower-end phones were selling worse than the company hoped.

It won't be a surprise if Apple doesn't release an iPhone SE in 24 years. The number of iPhone SEs Apple planned to produce was reported to have been lowered just weeks after the phone's release.

It would be understandable if Apple wasn't rushing to make a follow-up to a phone that didn't make a ton of money since it looks like it could be tough.

I think it would be a good time to make a budget phone. The more budget-friendly model has only been around for three years, so it's not like Apple would release a new model after two years.

There was a four year gap after the first model was released before the third model was released. It would be bad for Apple to let the line fail again since I was hoping the next model would be a revival of the iPhone Mini.

One company that may not be sad to hear about the cancellation of the new phone is the company that makes the 5G modems. Apple is said to be working on its own versions of the chips and was planning on testing them in the next iPhone. According to him, Apple has been sending the company back to the drawing board due to the fact that their modems haven't been performing as well as the ones made by the chipmaker.

It's worth taking with a grain of salt. Plans could always change a year from now. No source of rumors is flawless. He said that the virtual reality headset would come out in January 2023. Problems with mechanical component drop testing and the availability of software development tools could cause it to be delayed a second time.

It paints an uncomfortable picture for Apple when coupled with other reports such as the one that Apple had to cut back its plans for the A16 chip because of rare engineering mistakes. Tim Cook, the company's CEO, is known for keeping a tight ship. The skills are being tested by the effects of the Pandemic, a weak economy, and prickly political situations.