For the first quarter of its financial year, Apple plans to reduce the overall production volume to around 40 million to 43 million iPhones.
A week after slashing its quarterly sales forecast, Apple stated it will be contracting its planned production for three new iPhone models by around 10% for the first quarter of this year, stated a report by Nikkei Asian Review on Wednesday.
The move comes midst weakening demand for its iPhones in China where competitors such as Huawei are increasingly gaining ground due to a growing sense of nationalism; consumers who have opted for Apple’s iPhones have been publicly called traitors.
The Chinese economy has also been bruised by a trade war with the United States.
Consumers and analysts have earlier opined, the new iPhones are overpriced.
According to sources with knowledge of the matter at hand, late last month Apple had asked its suppliers to produce fewer-than-planned models of the XS, XS Max and XR iPhones.
That request was made before Apple cut its forecast last week, reported Nikkei.
For the January to March quarter, Apple plans to reduce the overall production volume of phones coming out of its stable to around 40 million to 43 million units, down from an earlier projection of 47 million to 48 million units.
Apple did not immediately respond to a request for comment.