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Apple slices production plan for iPhones

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Apple slices production plan for iPhones

Apple slices production plan for iPhones

Apple has cut production orders in recent weeks for three iPhone models launched in September.

Fred Katayama reports.

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Apple slices production plan for iPhones

Apple is cutting production for iPhones.

The Wall Street Journal reports it's slashing output orders for the iPhone XR, XS, and XS Max.

All three were just launched in September.

The daily says it's harder for Apple to anticipate how many parts and handsets it needs.

That's because demand for the new phones has been weaker than expected and the company had decided to offer more models.

Manhattan Venture Partners research head Santosh Rao said, "The smartphone market is saturated.

Apple's key growth engine is sputtering.

They need to make it up in services, but that's a function of hardware sales." Apple shares fell at the market open on Monday.

They have been plummeting this month as three of its suppliers had issued warnings that pointed to weakness in iPhone sales.

Particularly problematic: the iPhone XR, the cheapest among the new phones.

The Journal says Apple cut its production plan by up to a third of what it had asked its suppliers to make by February.

As recently as last week, Apple reportedly told several suppliers it lowered its production plan again for the XR.




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