click here:Â If you hear no sound or distorted sound from your iPhone, iPad, or iPod touch speaker
If that doesn't work yes it could be hardware and you should arrange a repair
https://support.apple.com/iphone/repair/service
Anything other than Screen or Battery may be a replacement phone and the price is in the article, depending on your warranty or AppleCare+ status.
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You can see additional service information within the following article:Â
Get your iPhone, iPad, or iPod touch ready for service - Apple Support
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iphone X have not been available from Apple for some time so I am not sure ifyou really mean "New" iphone X