Apple 'ordered 10pc cut in latest iPhone production'

11 January, 2019, 14:02 | Author: Kara Nash
  • Apple cuts 1Q production for new iPhones by 10 pct.: Report

The Nikkei Asian Review, which was among the first to publicize warnings about new iPhone sales last fall, reports that Apple has cut new iPhone production a further 10 percent for the entire first quarter of 2019. Cook blamed the shortfall on lower-than-expected demand from China over the Christmas and New Year holiday period. Of course that was all debunked when Apple had a record breaking quarter for iPhone sales.The iPhone X had been the top selling iPhone every week since shipping.

According to Nikkei Asian Review, citing a person with knowledge of the matter, total planned production volume of both old and new iPhone models will probably be reduced to a range of 40-43 million units during the January-March quarter.

Sculley, who the late co-founder Jobs lured from PepsiCo to Apple, pointed out that the first and later iPhone generations gradually took market share from Blackberry, Nokia and Motorola cell phones and revolutionized photography, eventually leading to Kodak's bankruptcy in 2012.

Market research firm Canalys estimates shipments fell 12 percent in China a year ago and expects smartphone shipments in 2019 to dip another three percent, to below 400 million for the first time since 2014. But it's also a drop of over 20 percent when you look at the 52.21 million iPhones that Apple sold in the year-ago quarter.

Mueller said today that Apple's current problems are a good example of what happens when a company fails to get the combination of innovation, features and price right.

Very important to note is that the numbers vary a lot from one day to another, but every time, the iPhone XS Max remains the leading 2018 model. Analysts forecast that Apple Inc. will post 13.18 earnings per share for the current fiscal year. It is going to be hard to track the precise numbers as Apple announced late past year that it would no longer be sharing details of iPhone shipment figures.

Apple's Chief Executive Officer Tim Cook told CNBC on Tuesday that "naysayers on Wall Street were under-appreciating the Company's growing ecosystem of devices and services".

Investors knocked about $75 billion from Apple's market value last Thursday.


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