After its profit warning, Apple slashes iPhone production by 10 percent

Apple Cuts New iPhone Production By 10% In March Quarter Report

Foxconn, formerly known as Hon Hai Precision, is nearly as well known as Apple these days and is the rather infamous Taiwanese-based manufacturer of iPhones and other Apple-designed products.

We can say that based on Apple's report on Chinese demand, it's not quite a global iPhone crisis as much as it is a Chinese consumer crisis. iPhone sales numbers there are plummeting as new entrants from Chinese rivals Huawei and others continually improve on quality and feature sets and sway customers away from iFruit products.

It's not all that long since Apple celebrated becoming a trillion dollar company, but then just last week it issued a profit warning and its value plummeted.

Apple asked its suppliers late last month to produce fewer-than-planned models of the XS, XS Max and XR, Nikkei said, citing sources with knowledge of the request.

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Market research firm Canalys estimates shipments fell 12 percent in China past year and expects smartphone shipments in 2019 to dip another 3 percent, to below 400 million for the first time since 2014.

The original plan for 48 million sold units between January and March, later reduced to 43 million, is now taking another hit and is cut with an additional 10% to 40 million.

Apple's iPhone suppliers include Taiwanese assemblers Hon Hai Precision Industry Co Ltd (Foxconn) and Pegatron Corp. Of course the fact that Indians generally have even less money than the Chinese does not appear to have entered Apple's planning.

Chief Executive Tim Cook reiterated in an interview with CNBC on Tuesday that India was a major focus for Apple.

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