Just a week after lowering its revenue estimate for the first quarter of fiscal 2019, Apple is cutting its current production plan for new iPhones by about 10 percent for the January-March quarter, the Nikkei Asian Review reported.
Apple asked its suppliers to produce fewer new iPhones than planned for the quarter late last month before announcing it would miss its revenue forecasts at the end of 2018. It’s the second time in two months that the iPhone maker has trimmed its planned production for the flagship device.
In a letter to investors on January 2, Apple CEO Tim Cook said that for the quarter ending December 29, the company now expects revenue of approximately $84 billion, down from the max $93 billion it had previously projected.