TOKYO: Apple is expected to cut production of its latest iPhone models by about 30 per cent in the January-March quarter due to slower shipments. The news has rattled the nerves of investors in the US giant’s Asian suppliers.
As inventories of the iPhone 6s and 6s Plus have “piled up at retailers” since they were launched last September, production will be scaled back to let dealers go through their current stock, the business daily Nikkei reported.
The report prompted a 2.5 per cent drop in Apple shares, which have lost about a quarter of their value from record highs in April, reflecting worries over slowing shipments. Shares in the mainly Asian makers of the iPhones’ screens and chips were also sharply lower on Wednesday.
Apple expected to cut iPhone 6s production by a third
