Thursday, 24 January, 2019

Apple has reportedly reduced new iPhone production - again

Apple cuts 1Q production for new iPhones by 10 pct.: Report After a disastrous quarter, Apple is cutting iPhone production
Priscilla Morrison | 10 January, 2019, 09:10

The higher price for the new iPhones has been a concern for analysts and consumers.

Sources say that Apple contacted suppliers last month, telling them to produce fewer iPhones for the current quarter.

Another source added that Apple has revised its planned production of 43 million units, and is now targeting 40 million units for the January to Mark quarter, from an earlier projection of 47 million to 48 million units. The surprise warning triggered a broad sell-off in global stock markets.

Apple did not respond to a Reuters request for comment.

Apple's iPhone suppliers include Taiwanese assemblers Foxconn and Pegatron who are not moving to confirm the reports.

More news: Apple CEO Tim Cook On China, Wall Street And Innovation

Apple has yet again reportedly slashed its iPhone production plans, this time for the first quarter of the year.

Shares of Foxconn, the world's biggest electronics contract manufacturer, were up 1.6 percent while Pegatron was up 1.3 percent.

Among iPhone component suppliers in Asia, South Korea's LG Display Co Ltd 034220.KS closed up 0.5 percent, while Japan Display Inc 6740.T was flat. It is going to be hard to track the precise numbers as Apple announced late past year that it would no longer be sharing details of iPhone shipment figures.

Chief Executive Tim Cook reiterated in an interview with CNBC on Tuesday that India was a major focus for Apple.

On top of it all, last month Apple was also ordered by the Fuzhou Intermediate People's Court to stop selling and importing all iPhone models from the 6s to the X in China after concluding that Cupertino was infringing on two Qualcomm patents.

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