“Apple Inc, which slashed its quarterly sales forecast last week, has reduced planned production for its three new iPhone models by about 10 percent for the January-March quarter,” Reuters reports, citing Nikkei Asian Review. “Overall planned production volume of both old and new iPhones is likely to be cut to a range of 40 million to 43 million units for January-March period, from an earlier projection of 47 million to 48 million units, the Nikkei reported, citing one source familiar with the situation.”

“Overall planned production volume of both old and new iPhones is likely to be cut to a range of 40 million to 43 million units for January-March period, from an earlier projection of 47 million to 48 million units, the Nikkei reported, citing one source familiar with the situation,” Reuters reports. “Shares of Foxconn, the world’s biggest electronics contract manufacturer, closed up 1.6 percent, while Pegatron closed up 1.3 percent. Apple shares were up 1.3 percent at $152.70 in early trading on Wednesday.”

“As Chinese demand has faltered, Apple has increased focus on India, which recently overtook the United States as the world’s second-largest smartphone market,” Reuters reports. “Reuters reported last month that Apple will begin assembling its top-end iPhones in India this year through the local unit of Foxconn, citing a person familiar with the matter.”

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