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Apple to cut iPhone production in first quarter of 2017: report

by UNTV News   |   Posted on Tuesday, January 3rd, 2017

The new iPhone 7 smartphone goes on sale inside an Apple Inc. store in Los Angeles, California, U.S., September 16, 2016. REUTERS/Lucy Nicholson/File Photo

 

Apple Inc. will trim production of iPhones by about 10 percent in the January-March quarter of 2017, the Nikkei financial daily reported on Thursday, citing calculations based on data from suppliers.

The company had slashed output by 30 percent in January-March this year due to accumulated inventory, the paper said.

Apple’s shares were down 0.84 percent in midday trading, in line with the Nasdaq stock index.

An Apple spokeswoman declined to comment on the report. — Reuters

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