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

Published 12/30/2016, 01:20 PM
© Reuters. The new iPhone 7 smartphone goes on sale inside an Apple Inc. store in Los Angeles
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(Reuters) - Apple Inc (O:AAPL) will trim production of iPhones by about 10 percent in the January-March quarter of 2017, the Nikkei financial daily reported on Thursday, citing calculations based on data from suppliers.

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

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

© Reuters. The new iPhone 7 smartphone goes on sale inside an Apple Inc. store in Los Angeles

An Apple spokeswoman declined to comment on the report.

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