Wednesday, 16 January, 2019

Apple is reportedly cutting iPhone production by 10 percent

Tech Never Shines When Apple Stock Slumps. Things Could Be Better This Time Apple cuts 1Q production for new iPhones by 10 pct.: Report
Gustavo Carr | 11 January, 2019, 03:42

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.

Foxconn, formerly known as Hon Hai Precision, is nearly as well known as Apple these days and is the rather infamous Taiwanese-based manufacturer of iPhones and other Apple-designed products.

It's not all that long since Apple celebrated becoming a trillion dollar company, but then just last week it issued a profit warning and its value plummeted.

However, it comes as Apple CEO Tim Cook told Mad Money's Jim Cramer, when asked about reports that the iPhone XR was a flop, Cook says he calls 'bologna on that'. This figure is derived from sources apparently familiar with this request, and applies to the first 3 months of 2019.

Australia to play 2 T20Is, 5 ODIs in India
The second ODI will be contested in Nagpur on March 5, Tuesday, while Ranchi will host the third ODI on March 8, Friday. The quartet primarily took throwdowns as no specialist bowlers from the squad were present for this optional session.

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 units, the Nikkei reported, citing one source familiar with the situation.

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. They are perhaps Apple's most important and key supplier and could be viewed as a strategic partner for the world's second most valuable company.

Apple makes products including the iPad, the Apple Watch and Mac computers, and...

Among iPhone component suppliers in Asia, South Korea's LG Display Co Ltd was up 0.5 percent, while Japan Display Inc was flat. Cupertino probably decided on that initial goal based on previous sales, seeing as it sold 52.21 million units within the same period a year ago.