Report: iPhone 5c Sales “Disappoint”

This iPhone is stone cold.

A month after unveiling two new iPhones, the cheaper 5c is selling at half the rate of the more expensive iPhone 5s, according to CNBC.com, which has dubbed the device "Apple's red-headed stepchild."

iPhone 5s sales make up 64 percent of all iPhone sales, with iPhone 5c sales comprising 27 percent, according to the Web site.

A top analyst predicted that Apple will ship 11.4 million units during the third quarter of 2013. That sounds like a lot -- but it's 33 percent down from his initial prediction made in September, CNBC reported.

Some retailers have responded by slashing the iPhone 5c in price to $50 or less with a two-year contract. 16 GB models with a subsidy originally moved for $99.

Apple reports its quarterly earnings on Oct. 28, but in the meantime, the "consensus" is that Apple will slash the 5c price even further -- and will be forced to watch demand for the 5s dissipate.