Leading technology giant Apple® Inc expects a 30% cut in production of its latest iPhone models in the first quarter of 2016. The news was made confirmed by Nikkei ASIAN Review. The decision was taken by Apple® after is found unsold inventories of the iPhone 6s and 6s Plus since their first launching in September 2015. After the announcement, Apple’s shares fell down by 2.2% at $102.97. Moreover, the stock iPhone 6s has already lost about 1/4th of its value in response to worries over slowing shipments.
“This is an eye-opening production cut which speaks to the softer demand that Apple® has seen with 6s out of the gates,” says FBR Capital Markets analyst Daniel Ives. “The Street was bracing for a cut but the magnitude here is a bit more worrisome,” he added. Surprisingly, the shares of Apple® suppliers, including Qorvo Inc Skyworks Solutions, and Cirrus Logic, fell down after the release of official announcement. The business of Apple® suppliers, such as Sony Corp, TDK Corp, Alps Electric Co Ltd and Kyocera Corp, also affected.
The production is likely to resume to normal in the 2nd quarter of 2016, according to Nikkei. Surprisingly, Patrick Moorhead, an analyst at Moor Insights & Strategy, thinks that it is doubtful about the production cut reports. “Apple® has been gaining significant market share in pretty much every region, and I’m not seeing a global slowdown,” he added.
It is also possible that a slash in production can compel the technology giant to restrict or discontinue Apple® help that is availed by Apple® users through Apple® Customer Service. If any of such things happen, Apple® users will find it hard to overcome the issue of random shutdowns, 3D touch issues, overheating problems, Touch ID home button issues, and other networking, software and compatibility issues that users generally resolve by contacting Apple® Tech Support Number.
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