Apple cuts 1Q production for new iPhones by 10 pct

Desiree Burns
January 12, 2019

Catcher Technology, which builds metal frames and assembles the glass back of the iPhone XR, says the challenging conditions are likely to generate a further decline this year.

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.

That rare forecast cut exposed weakening iPhone demand in China, the world's biggest smartphone market, where a slowing economy has also been buffeted by a trade war with the United States. The iPhone XR has already surpassed the iPhone XS model in sales.

Luckily for Apple, the Chinese court's ruling does not apply to iPhone models running iOS 12 nor to Apple's latest iPhone XS/XR/XS Max lineup, allowing it to keep those models on a market which, apparently, doesn't really want them in the first place according to Tim Cook. Production volume is expected to be cut to 40 million to 43 million units for the Jan-March quarter.

Following Cook's message, Apple's stock went on an accelerated drop, experiencing a severe 38% drop between a maximum valuation of 232.07 per share on October 3 to an all-time low of $142.08 per share the day after the investor letter.

Mysterious repeating radio signal is detected from far outside our galaxy
The findings were presented during a meeting held by the American Astronomical Society in Seattle, Wash., on Thursday. FRBs last for just a few milliseconds, and their unpredictable displays make observations notoriously hard .

Apple's iPhone suppliers include Taiwanese assemblers Hon Hai Precision Industry (Foxconn) and Pegatron.

Apple decided previous year to halt reporting on sales numbers of its iPhone and other hardware units, causing concern for investors who feared there may be a slowdown in demand for premium Apple products.

Apple representatives didn't respond to a request for comment.

Among iPhone component suppliers in Asia, South Korea's LG Display Co Ltd was up 0.5 percent, while Japan Display Inc was flat.

The cut in revenue guidance was Apple's first in more than 15 years, and triggered a global market rout as fears of an economic slowdown set in. He added that Apple's ability to string out the iPhone growth story as long as it did was both remarkable and a testament to the lock-in of its platform, which is helped by services such as iMessage, FaceTime and Music.

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