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Apple trims 10% production plan for iPhones: Report

IANS  |  Taipei 

Just a week after lowering its revenue estimate for the first quarter of fiscal 2019, is cutting its current production plan for new iPhones by about 10 per cent for the January-March quarter, Asian Review reported on Wednesday.

asked its suppliers to produce fewer new iPhones than planned for the quarter late last month - before the January 2 revelation that the Cupertino, California-headquartered would miss its revenue forecasts at the end of 2018, the report said.

It's the second time in two months that the maker has trimmed its planned production for the flagship device.

In a letter to investors on January 2, said that for the quarter ending December 29, the company now expects revenue of approximately $84 billion, down from the $89 to $93 billion it had previously projected.

"We did not foresee the magnitude of the economic deceleration, particularly in greater China," Cook said in the letter.

"We believe the economic environment in has been further impacted by rising trade tensions with the United States," he added.

The request to cut production for the January-March quarter of this year suggests that the maker is expecting a further hit this year.

The latest revision to future production applies to all new models -- the XS Max, XS and XR, reported citing sources familiar with the matter.

--IANS

gb/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 11:02 IST
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