The Nikkei writes: "Apple is cutting its current production plan for new iPhones by about 10% for the next three months in a sign that the USA smartphone maker is expecting a further hit this year, just a week after its market-shaking revelation that it would miss revenue forecasts at the end of 2018".
Apple has asked reportedly its suppliers to manufacture fewer iPhones than planned for January to March, affecting both older iPhone models and the firm's flagship iPhone XS, XS Max, and XR models.
Not only have slowing sales decimated Apple's market cap in recent weeks, but they're also causing problems for iPhone suppliers. The original plan for the 48 million devices sold in the period from January to March, which was subsequently reduced to 43 million, now receives another blow and is reduced by an additional 10% to 40 million. The firm also projects another 3% decrease in smart phone shipments during the current year to below 400 million units for the first time in at least five years.
The request was made before Apple announced its forecast cut, the Nikkei said.
Foxconn, formerly known as Hon Hai Precision, is nearly as well known as Apple these days and is the rather infamous Taiwanese-based manufacturer of iPhones and other Apple-designed products. Pegatron declined to comment on the report when contacted by Reuters, while Foxconn did not reply to a request for comment. Delphi Private Advisors LLC acquired a new position in Apple during the second quarter valued at approximately $120,000. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
As Chinese demand has faltered, Apple has increased focus on India, which recently overtook the United States as the world's second-largest smartphone market.
Apple CEO Tim Cook's vision for health-care services has gotten a stamp of approval from a past chief of the tech giant.
Reutersreported last month that Apple will begin assembling its top-end iPhones in India this year through the local unit of Foxconn, citing a person familiar with the matter.