Apple Reportedly Cutting iPhone Production

KCBS Radio: On-Demand
Wednesday, January 9th
There could be more bad news on the way for Apple suppliers.

The Nikkei Asian Review is reporting that Apple is cutting production for its three new iPhones by ten percent in the first quarter.

Apple last week was hammered by investors after delivering its first revenue guidance cut in over a decade, mainly due to weakening iPhone demand in China. The report says Apple requested the production cut before it made the forecast announcement.

Reuters reports that market research firm Canalys is expecting smartphone shipments in China to fall three percent in 2019 after a 12-percent decline last year.

Listen to KCBS Radio business reporter Jason Brooks' full story on the day's market news.