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TEHRAN, November 06 - Apple Inc (AAPL.O) has told its smartphone assemblers Foxconn and Pegatron (4938.TW) to halt plans for additional production lines dedicated to its new iPhone XR, the Nikkei financial daily reported s.nikkei.com/2PHPYWb on Monday.
TEHRAN, Young Journalists Club (YJC) - Apple Inc (AAPL.O) has told its smartphone assemblers Foxconn and Pegatron (4938.TW) to halt plans for additional production lines dedicated to its new iPhone XR, the Nikkei financial daily reported s.nikkei.com/2PHPYWb on Monday.
Apple shares fell nearly 4 percent after the report, which fueled concerns that the iPhone XR, the cheapest of three iPhones Apple unveiled in September, was facing weak demand just days after it hit shelves.
The Nikkei, citing supply chain sources, said Apple had also asked smaller iPhone assembler Wistron (3231.TW) to stand by for rush orders, but that the company will receive no orders for the iPhone XR this season.
“For the Foxconn side, it first prepared nearly 60 assembly lines for Apple’s XR model, but recently uses only around 45 production lines as its top customer said it does not need to manufacture that many by now,” the Nikkei quoted one source as saying.
Apple is considered the biggest customer for Foxconn, formally known as Hon Hai Precision Industry Co (2317.TW).
Apple did not respond to Reuters’ request for comment, while Foxconn and Pegatron each said they would not comment on specific customers or products.
Source: Reuters
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