IDC: Apple (AAPL.US) Vision Pro sales are unlikely to exceed 500,000 this year, with the market waiting for a cheaper version.

Apple's (AAPL.US) most anticipated new product in years, the iPhone Vision Pro, is expected to see a sales downturn until a cheaper version is released next year.

According to market research firm IDC, the $3,500 iPhone Vision Pro has sold fewer than 100,000 units in its first quarter since its launch in the US in February, and is expected to see a 75% decline in domestic sales this quarter and struggle to break 500,000 units this year.

The device will be rolled out globally at the end of June, offsetting any weakness in the US market. IDC expects a cheaper version (estimated by the firm to be about half the price) to reignite interest in 2025, but sales are unlikely to see a significant increase over the next year.

IDC Vice President Francisco Jeronimo said: "Whatever the price, the success of Vision Pro will ultimately depend on the content available. As Apple expands its product into the market, providing local content is also crucial."

Sales of Vision Pro are expected to pick up only after a cheaper version is released

Consumer reactions to Apple's latest device have been mixed. Many reviewers and early adopters have praised its advanced technology, but some die-hard Apple fans are now returning their devices. Its weight and lack of custom apps and video content are among the main reasons people are refusing to buy the device. Vision Pro has not brought any meaningful improvement to Apple's quarterly earnings since its launch.

Disappointing launches have prompted Apple's management to rethink, with the company planning to release a cheaper device. IDC expects sales of the new device to more than double in the next holiday season as the Vision Pro ecosystem matures.