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

11 January, 2019, 03:42 | Author: Sherman Richardson
  • Apple chief executive Tim Cook

And it applies to all of them, the iPhone XS, XS Max, and XR.

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 chose to reduce by 10% the production of the new iPhones. Apple took a direct hit from the issue and even lost its number one spot to Microsoft who in turn lost it to Amazon.

The request was made before Apple cut its forecast last week, Nikkei said.

Apple originally planned to ship up to 48 million old and new iPhones in the first quarter of 2019, but with the cuts, it will now ship 40 to 43 million units.

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Apple shares plunged over 9 percent earlier this month as Wall Street was rattled by the Silicon Valley giant's shock revenue warning.

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.

The report comes after chip suppliers Samsung Electronics Co Ltd and Skyworks Solutions Inc flagged weak first-quarter chip demand for smartphones. Pegatron declined to comment on the report when contacted by Reuters, while Foxconn did not immediately reply to a request for comment. Foxconn is said to collect almost 80 percent of its revenue from Apple products, and it's clear that since both Apple component suppliers (who would be selling to Foxconn) and Apple itself slashed forecasts that lagging iPhone sales are to blame here.

Chief Executive Tim Cook reiterated in an interview with CNBC on Tuesday that India was a major focus for Apple. Apple sold 52.21 million iPhones in the same period previous year, according to Nikkei.

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