After forecast cut, Apple reduces Q1 production plan for new iPhones by 10%

Shares of Apple suppliers show muted reaction to report

Apple Inc, which slashed its quarterly sales forecast last week, has reduced planned production for its three new iPhone models by about 10 per cent for the January-March quarter, the Nikkei Asian Review reported on Wednesday.

That rare forecast cut exposed weakening iPhone demand in China, the world's biggest smartphone market, where a slowing economy has also been buffeted by a trade war with the United States.

Many analysts and consumers have said the new iPhones are overpriced.

Apple asked its suppliers late last month to produce fewer-than-planned units of its XS, XS Max and XR models, the Nikkei reported,