News Summary: WSJ says Apple cutting parts orders

AP News
Posted: Jan 14, 2013 10:42 AM

THE REPORT: The Wall Street Journal reports that Apple Inc. has cut its orders for iPhone 5 components due to weaker-than-expected demand.

THE DETAILS: The newspaper said that two people it did not identify by name told it that Apple's first-quarter orders for iPhone 5 screens have dropped to about half of what the company had previously planned to order.

THE REASON: The move is a sign that sales of the new iPhone haven't been as strong as previously expected. It comes as Apple faces increased competition from Samsung Electronics Co. and other makers of smartphones that run Google Inc.'s Android operating system.