Apple quietly rows back iPhone production amidst sagging demand

Apple has reportedly instructed its supply chain partners to scale back production of iPhone components over the coming quarter as it seeks to reduce the number of new iPhones being produced by as much as 30 per cent in the wake of falling demand.

The tech firm has declined to confirm or deny the reports but chief executive Tim Cook has previously advised caution when interpreting rumours concerning its complex supply chain.

The news follows recent predictions of a slowdown in sales by industry analysts mindful of a double whammy of market saturation in developed markets and increasing prices in fast growing developing economies.

Apple has also been hit by stagnant growth elsewhere in its product range, with sales of the iPad and Apple Watch flat lining.

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