Thursday, 17 January, 2019

Apple orders 10 percent reduction in iPhone production plans

Apple Cuts New iPhone Production By 10% In March Quarter Report Apple cuts 1Q production for new iPhones by 10 pct.: Report
Johnnie Parks | 12 January, 2019, 15:46

Apple is to cut production of its iPhone by about 10 per cent for the first three months of the year as its struggle to sell new handsets continues, it was reported yesterday.

Sources say that having initially projected production numbers of around 47 to 48 million units, Apple is now expecting to produce somewhere between 40 and 43 million iPhones. The newest revision applies to all iPhone models - the XR, XS, and XS Max, Nikkei added.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 1st.

The difference is substantial, given the 52.21 million units Apple sold in January-March 2018. The Digitimes report of the day noted that "the slower-than-expected sales of iPhone 8 and iPhone 8 Plus have dragged down the momentum for the iPhone X". However, Cook denies that the iPhone XR is a flop.

Nikkei cited the decline in the production to a more competitive market and the ongoing US-China trade war. Delphi Private Advisors LLC acquired a new position in shares of Apple in the 2nd quarter valued at $120,000.

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Apple representatives didn't respond to a request for comment.

The news followed warnings by suppliers such as Samsung Electronics Co Ltd and Skyworks Solutions Inc about weak Q1 demand for smart phone chips. And considering that Foxconn now produces most of the Apple products, a drop in monetary revenue was ultimately inevitable, despite the fact that the producer has other customers in its range.

There was little reaction to the report among shares of major Apple suppliers, as the market has already digested production cuts after the iPhone maker's forecast cut, analysts said. At the time, analyst Holger Mueller of Constellation Research Inc. told SiliconANGLE that decision to stop reporting iPhone sales would allow Apple to "hide potential issues" regarding its business.

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

Reuters reported last month that Apple will begin assembling its top-end iPhones in India through the local unit of Foxconn this year, citing a person familiar with the matter.

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