Apple to cut iPhone production in Jan-March quarter - Nikkei

(Reuters) - Apple Inc will trim production of iPhones by about 10 percent in the January-March quarter, the Nikkei financial daily reported, citing calculations based on data from suppliers.

The company slashed output by 30 percent in the January-March quarter this year due to accumulated inventory, the Nikkei reported. http://s.nikkei.com/2hClWTv

Apple's shares were down 0.85 percent in midday trading.

The company did not immediately respond to requests for comment.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta)