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

Apple's shares were down 0.84 per cent


Reuters December 31, 2016

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

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

Apple's shares were down 0.84 per cent in midday trading, in line with the Nasdaq stock index.

An Apple spokeswoman declined to comment on the report.

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