INSUBCONTINENT EXCLUSIVE:
Apple Inc is cutting planned production for its three new iPhone models by about 10 per cent for March quarter, Nikkei Asian Review reported
on Wednesday, a week after company slashed its quarterly sales forecast.That rare step exposed weakening demand in China for Apple's
iPhones amid a slowing economy, which has also been buffeted by a bruising trade war with United States.Many analysts and consumers have
said new iPhones are overpriced.Apple asked its suppliers late last month to produce fewer-than-planned models of XS, XS Max and XR, Nikkei
said, citing sources with knowledge of request.The request was made before Apple cut its forecast last week, Nikkei said
The surprise warning triggered a broad sell-off in global stock markets.Overall planned production volume of both old and new iPhones is
expected to be cut to about 40 million to 43 million units for January-March quarter, from an earlier projection of 47 million to 48 million
units, Nikkei reported citing one source familiar with situation.Apple did not immediately respond to a Reuters request for comment.
