Apple's iPhone suppliers include Taiwanese assemblers Hon Hai Precision Industry (Foxconn) and Pegatron. A small slump in iPhone sales aside, the company has seen good sales of iPads, Apple Watch, AirPods, and Macbooks - with the diversity of products ensuring protection against unexpected dips in revenue.
Under the newly revised plan, a source told the Nikkei that overall production volume of both older and new iPhones will be reduced to between 40m and 43m units for the quarter, down from an earlier projection of 47m to 48m units. The iPhone XR has already surpassed the iPhone XS model in sales.
This led analysts from Bank of America Merrill Lynch to claim that flagging sales may be due to Apple facing an "informal boycott" in China, where its sales have slowed down the most significantly following the political unrest.
Reuters reports that market research firm Canalys is expecting smartphone shipments in China to fall three percent in 2019 after a 12-percent decline previous year.
This decline would represent a year-on-year contraction of more than 20 percent from the 52.21 million units Apple sold in January-March 2018. Evergreen Capital Management LLC lifted its stake in shares of Apple by 8.8% during the first quarter.
The news followed warnings by suppliers such as Samsung Electronics Co Ltd and Skyworks Solutions Inc about weak Q1 demand for smart phone chips.
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Apple did not immediately respond to a Reuters request for comment.
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.
Now a new report from Nikkei confirms that Apple is cutting down production by 10%.
Market research firm Canalys estimated shipments of smartphones fell 12 per cent a year ago in China, the world's largest smartphone market.
In an Interview, which was conducted by the Apple CEO Tim Cook is now with the American TV channel CNBC, it was a lot of emotions.
If accurate, it would be the second time Apple has cut production of its iPhones in the last two months.