Apple slashed the number of iPhones it planned to order from Hon Hai Precision Industry Co Ltd better known as Foxconn after the startlingly low demand for its line of 2018 iPhone models, as reported by The Wall Street Journal.
The move also affected the suppliers and workers involved in the production of the new iPhones, with multiple suppliers already having been asked to cut down the production plans for the iPhone XR.
“And in the past week, Apple told several suppliers that it cut its production plan again for the iPhone XR, some of the people said Monday, as Apple battles a maturing smartphone market and stiff competition from Chinese producers,” says The Wall Street Journal.
This is following a previous cut of a third of the total number of iPhone XR units planned, from 100 million to around 70 million, according to a client note by top-ra… (read more)
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