iPhone5 sales are sliding downwards, according to an analyst from Jefferies. Peter Misek shared a note claiming sales were, “decelerating faster than expected.”

iPhone5

He added that Apple Inc. (NASDAQ:AAPL) cut down their iPhone5 production from 40 million to 30 million. He also said next month, Apple will cut the production of their sixth generation smartphones from 40 million to 30 million. He speculates that the production is slowing down to make way for the production of the iPhone5S.

It’s predicted that the next iPhone could arrive as early as this summer. It’s also predicted that the seventh generation smartphone could come in an array of fun colors like the current iPod Touch generation. There are also rumors that Apple will release a slightly cheaper iPhone made from plastic and would retail for about $300 unlocked.

On Tuesday, Apple chief executive officer, Tim Cook, claimed that iPhone 6 could feature organic light emitting diobes (OLED) technology. Interesting enough, Misek thinks that may be what’s delaying the current production of the iPhone. There is also another possibility that the future iPhone could feature Sharp’s  “IGZO” technology.

Apple Inc. (NASDAQ:AAPL) fans have high expectations for the upcoming gadget. Thanks to competition from the likes of Samsung, it’s possible that many consumers are getting tired of Apple products. They want something different and unexpected. That said, Apple could make  significant improvements on the iPhone5S or iPhone 6.

Apple never makes comments about upcoming gadgets, so fans will have to wait and see what the company comes up with next.

On a positive note for Apple Inc. (NASDAQ:AAPL), the iPhone5 will remain at it’s current price. Tim Cook recently announced his plans to make the brand more affordable and cut back some of the prices for Macbook laptops. This move may be part of an effort to inspire interest in Mac computers.