Apple Cutting iPhone Production By 10%


Follows earlier iPhone 7 production cuts

Apple (AAPL) is cutting production of the iPhone by 10% in the first quarter of 2017.

The news comes from Nikkei in Japan. The reason for the production cut is slower than expected sales for the iPhone 7.

While the iPhone 7 had some features consumers liked, the new device was criticized for being similar to the previous model, and lacking the plug-in headphones of all previous iPhones.

Apple already reduced production of the phones, having cut production 20 per cent earlier in 2016.

Apple stock fell slightly on the news, finishing at 115.82 USD.

The iPhone 8 is expected to feature big design changes, in an effort to spur further consumer interest and reclaim the mantle of innovation.

But things could be worse for Apple. After all, they could be Samsung.

Spencer Fernando

 


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