Apple cuts first-quarter production plan for new iPhones by 10 percent: Nikkei

Apple asked its suppliers late last month to produce fewer-than-planned models of the XS, XS Max and XR, Nikkei said, citing sources with knowledge of the request. The request was made before Apple cut its forecast last week, Nikkei said.

Apple cuts first-quarter production plan for new iPhones by 10 percent: Nikkei
Many analysts and consumers have said the new iPhones are overpriced. Reuters
Written By: Reuters
Updated: Wed, Jan 09, 2019
11:01 am
Reuters
RELATED NEWS
Apple launches app to let users enroll in health studies Apple launches app to let users enroll in health studies
Trump talks trade with Apple CEO Cook as China dispute looms Trump talks trade with Apple CEO Cook as China dispute looms
India manufacturing, retail stores top priority: Tim Cook India manufacturing, retail stores top priority: Tim Cook
Apple to exchange faulty plug adapters Apple to exchange faulty plug adapters
Trouble for Apple as ITC judge says iPhones violate Qualcomm patent Trouble for Apple as ITC judge says iPhones violate Qualcomm patent

Apple Inc is cutting planned production for its three new iPhone models by about 10 percent for the March quarter, the Nikkei Asian Review reported on Wednesday, a week after the company slashed its quarterly sales forecast. That rare step exposed weakening demand in China for Apple`s iPhones amid a slowing economy, which has also been buffeted by a bruising trade war with the United States. Many analysts and consumers have said the new iPhones are overpriced.

Apple asked its suppliers late last month to produce fewer-than-planned models of the XS, XS Max and XR, Nikkei said, citing sources with knowledge of the request. The request was made before Apple cut its forecast last week, Nikkei said.

The surprise warning triggered a broad sell-off in global stock markets.

Watch This Zee Business Twitter Video  

Overall planned production volume of both old and new iPhones is expected to be cut to about 40 million to 43 million units for the January-March quarter, from an earlier projection of 47 million to 48 million units, Nikkei reported citing one source familiar with the situation.

Apple did not immediately respond to a Reuters request for comment.