It’s gloomy new year for Apple, after the company’s shock downgrade.
The US smartphone maker is set to cut its iPhone production plan by 10% for the next three months.
The news come after its market-shaking revelation that it woulf miss revenue forecasts at the end of 2018.
Last month, Apple asked its suppliers to produce fewer ot its new iPhones than planned for the January-March quarter, sources said.
It is the second time that the US company has cut its planned production for the flagship device.
THE company said that revenues for the final three months of the year would come in at about $84 billion, against previous guidance of $89 billion to $93 billion.
Meanwhile, it is the first reduction in revenue guidance in 16 years.
As of writing, Apple did not reached for comment.