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After its profit warning, Apple slashes iPhone production by 10 percent
12 January 2019, 03:45 | Rodolfo Wallace
After a disastrous quarter, Apple is cutting iPhone production
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 US 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".
Another source added that Apple has revised its planned production of 43 million units, and is now targeting 40 million units for the January to Mark quarter, from an earlier projection of 47 million to 48 million units.
Apple asked its suppliers late last month to produce fewer than planned units of its XS, XS Max and XR models, the Nikkeireported. Foxconn is said to collect almost 80 percent of its revenue from Apple products, and it's clear that since both Apple component suppliers (who would be selling to Foxconn) and Apple itself slashed forecasts that lagging iPhone sales are to blame here.
Apple blamed the growing tension on import fees between China and the United States as one of the reasons iPhone sales are going down. The Digitimes report of the day noted that "the slower-than-expected sales of iPhone 8 and iPhone 8 Plus have dragged down the momentum for the iPhone X".
Apple also said that it will stop disclosing iPhone shipments, starting from the October-December quarter this year. Delphi Private Advisors LLC acquired a new position in shares of Apple in the 2nd quarter valued at $120,000. And to make matters worse, it seems that Apple could soon transfer much of its production to Pegatron, another famous assembler, in the hope of avoiding further bans on sales, in addition to the bans already received in China and Germany.
The Nikkei said Apple could not be reached for comment on the information.
The report comes after chip suppliers Samsung Electronics and Skyworks Solutions flagged weak first-quarter chip demand for smartphones. However, most of Apple's products do not come under the increased tariffs bracket.
Chief Executive Tim Cook reiterated in an interview with CNBC on Tuesday that India was a major focus for Apple. And that, of course, is why Apple will no longer provide unit sales numbers.
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