Apple cuts production plan for new iPhones by 10% for first quarter

Apple Cuts First Quarter Production Plan for New iPhone Models by 10 Percent Report

A week after the shock created by the announcement of a downward adjustment of its revenue forecast for the last quarter of 2018, we learn that Apple has made a decision to reduce by 10% the production of the new iPhones.

This comes after Apple slashed its quarterly sales forecast last week.

Rumor has it that Apple is scaling back its production plans for its most recent fleet of handsets - the iPhone XS, iPhone XS Max, and iPhone XR - by around 10%. Apple suppliers, including Britain's Renishaw, were hit by the sell-off.

Market research firm Canalys estimates shipments fell 12 percent in China previous year and expects smartphone shipments in 2019 to dip another three percent, to below 400 million for the first time since 2014. Production volume is expected to be cut to 40 million to 43 million units for the Jan-March quarter.

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Apple's iPhone suppliers include Taiwanese assemblers Hon Hai Precision Industry (Foxconn) and Pegatron. As the Nikkei Asian Review reports, this "is the second time in two months that the U.S. company has trimmed its planned production for the flagship device".

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

According to a report by Nikkei, the amended plan is due to slowing demand for smartphones - especially in China, whose weak economy was blamed by Apple for not meeting previous sales targets.

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