Apple Cuts Orders For iPhone 5 Components; Shares Fall
Bangalore: Apple, the maker of the most desirable gadgets in the world, has cut its orders for iPhone 5 components in response to the weaker demands. The latest reports from Wall Street Journal signaled about the Apple shares falling in premarket trading, following the order cut.
Along with the reports from WSJ, the Japanese daily, Nikkei, claims that Apple had asked Sharp and LG Display to halve its order of LCD displays from January to March 2013. In addition, it’s also reported that the sales of Apple’s latest Smartphone is presently falling in terms of company’s estimates.
Apple Inc. the Cupertino based giant had plunged the stock by nearly 30 percent with the release of iPhone 5. Apparently the stock’s decline is not caused by concerns about the iPhone 5’s performance in sales. Even though the company came up with iPhone 5 as the best version of what indeed revolutionized the telecommunications and computing industry, its stock was drooping since the device hit the market.
Samsung Electronics, the world’s largest Smartphone vendor by market share overtook Apple last year with the growing popularity of its Android- powered phones led by Galaxy –S products. Since Apple has lost its grounds to Android, it is rumored that Apple is considering the release of a less expensive iPhone version made of cheaper components to boost the sales in the less affluent countries.
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