Apple iPhone 6s and 6s Plus: Production cut reports send shares lower
Apple is to cut production of its newest handsets, the iPhone 6s and 6s Plus, by as much as 30 per cent, according to reports – which sent shares sliding.
Production of the handsets will be reduced in the first quarter of the 2016, Nikkei reported, as inventory piles up in developed markets such as Europe and China and currency swings make the iPhone more expensive in emerging countries.
Production will return to normal in the second quarter, however, the report claimed.
Shares tumbled 2.5 per cent in Tuesday's trading to $102.71 per share after the reports emerged.
Sales of the handset broke records when it first went on sale in September, selling 13m in just three days.