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Apple's Asia suppliers fall on report that iPhone XR production boost nixed

Apple shares fell nearly 4% on Monday after the report from the Nikkei financial daily

Reuters 

Apple, iPhone XR
Apple iPhone XR

Inc's Asian supplier and assembler stocks fell on Tuesday on a media report that the maker had told its assemblers to halt plans for additional production lines dedicated to its new XR.

Taiwanese assembler fell nearly 4 per cent and rival (Foxconn) fell 2.5 per cent. is widely considered the biggest customer for

shares fell nearly 4 per cent on Monday after the report from the daily, which fuelled concerns that the XR - the cheapest of three iPhones unveiled in September - was facing weak demand just days after it hit shelves.

The Nikkei, citing supply chain sources, said Apple had also asked smaller iPhone assembler to stand by for rush orders, but that the company will receive no planned orders for the iPhone XR this season. Wistron shares were down just over 1 per cent on Tuesday.

A bunch of Apple's other Taiwanese suppliers fell sharply, including camera lens-maker Largan Precision Co Ltd, which was down more than 7 per cent, and Flexium Interconnect Inc, which fell 6 per cent. The Taiwan Weighted Index was down around 0.9 per cent.

Hong Kong-based fell 7 per cent. South Korean electronic parts suppliers and were down more than 6 per cent.

The Nikkei report comes days after Apple said sales for the usually busy holiday period would likely miss expectations sales in emerging markets including were weak.

Apple on Monday did not respond to Reuters' request for comment. and Pegatron declined to comment on specific customers or products. Wistron was not immediately available for comment.

First Published: Tue, November 06 2018. 09:13 IST
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