Apple cuts Q1 production plan for new iPhones by 10%, Latest Business News - The New Paper

Apple cuts Q1 production plan for new iPhones by 10%

This article is more than 12 months old

Apple, which slashed its quarterly sales forecast last week, has reduced planned production for its three new iPhone models by about 10 per cent for the January-March quarter, the Nikkei Asian Review reported yesterday.

That rare forecast cut exposed weakening iPhone demand in China, the world's biggest smartphone market.

Many analysts and consumers have said the new iPhones are overpriced.

Apple asked its suppliers late last month to produce fewer-than-planned units of its XS, XS Max and XR models, the Nikkei reported, citing sources.

The request was made before Apple announced its forecast cut, the Nikkei said.

The bleaker sales outlook, which Apple attributed to weak China demand, triggered a broad sell-off in global stock markets.

Overall planned production volume of both old and new iPhones is likely to be cut to a range of 40 million to 43 million units for January-March, from an earlier projection of 47 million to 48 million, the Nikkei reported.

As Chinese demand has faltered, Apple has increased focus on India, which recently overtook the US as the world's second-largest smartphone market. - REUTERS