Apple 'ordered 10pc cut in latest iPhone production'

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The Nikkei reported the move would reduce the total number of iPhones made this quarter from the previously estimated range of between 47 million and 48 million, to between 40 million and 43 million, or more than 20% less in terms of year-over-year quarterly production.

In late December, Apple requested that its suppliers manufacture fewer-than-planned units of iPhone XS, iPhone XS Max and iPhone XR after which the tech company cut its quarterly sales forecast during the week ended on January 6th, thus, signaling slowing demand for its devices in the largest smart phone market globally - China. However, Cook denies that the iPhone XR is a flop.

Apple has reportedly cut production plans for its 2018 iPhones again.

The decline in iPhone sales has forced the company to step up its services business, which pulled in record revenue of more than $10 billion in the last quarter. They are perhaps Apple's most important and key supplier and could be viewed as a strategic partner for the world's second most valuable company.

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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. Apple sold 52.21 million iPhones in the same period a year ago, according to Nikkei. Delphi Private Advisors LLC acquired a new position in shares of Apple in the 2nd quarter valued at $120,000.

On top of it all, last month Apple was also ordered by the Fuzhou Intermediate People's Court to stop selling and importing all iPhone models from the 6s to the X in China after concluding that Cupertino was infringing on two Qualcomm patents. 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. -China trade war, even though most of its products are not yet subject to additional USA tariffs imposed on Chinese-made goods.

Chief Executive Tim Cook reiterated in an interview with CNBC on Tuesday that India was a major focus for Apple.

The cited source speculates that Apple is playing the safe card as it expects another decline in terms of iPhone sales in the coming months.