Reports from Reuters show that the Cupertino-based tech firm, Apple Inc. will trim production of it’s iPhones by about 10% in the first quarter of 2017, the Nikkei financial daily reported on Thursday, citing calculations based on data from suppliers.
The company had slashed output by 30% in January-March this year due to accumulated inventory, the paper said.
Apple’s shares were down 0.84% in midday trading, in line with the Nasdaq stock index.
An Apple spokeswoman declined to comment on the report.
source: Reuters and Nikkei Financial Daily
