Apple has reportedly reduced new iPhone production - again

Pearl Mccarthy
January 11, 2019

The Nikkei writes: "Apple is cutting its current production plan for new iPhones by about 10% for the next three months in a sign that the USA smartphone maker is expecting a further hit this year, just a week after its market-shaking revelation that it would miss revenue forecasts at the end of 2018".

The smartphone giant made the request before last week's shock reduction in its sales outlook, "Nikkei" said, citing unidentified sources as saying.

"Lower than anticipated iPhone revenue, primarily in Greater China, accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline".

The Company told its suppliers in December that it would produce fewer new iPhones from its initial expectations for the March quarter, the Nikkei said.

According to the new proposal, overall production for new and old iPhones would be reduced from 43 million units to 40 million for the March quarter.

It's not all that long since Apple celebrated becoming a trillion dollar company, but then just last week it issued a profit warning and its value plummeted. This figure is derived from sources apparently familiar with this request, and applies to the first 3 months of 2019. Apple's revenue for the quarter was up 19.6% compared to the same quarter previous year.

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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.

Recalling how Apple's iconic former chief Steve Jobs upturned both the wireless and photography industries a dozen years ago with the iPhone, Sculley says, "We're going to see something similar in health".

According to CNN Money, the 33 analysts, offering 12-month forecasts regarding Apple Inc's stock price, have a median target of $215.00, with a high estimate of $300.00 and a low estimate of $165.00. It is going to be hard to track the precise numbers as Apple announced late a year ago that it would no longer be sharing details of iPhone shipment figures.

Michael Grothaus writes about five ways to improve Apple services, a drum that Tim Cook has been beating for the past couple years.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 1st.

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