Apple extends iPhone production cut for another quarter - Nikkei

Reuters News
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Posted: Apr 15, 2016 1:29 PM

(Reuters) - Apple Inc will continue its reduced production of iPhones in the quarter ending June in light of sluggish sales, the Nikkei business daily reported, citing parts suppliers notified of the plan.

Apple apparently does not plan to make enough of the newly launched iPhone SE model, the Nikkei report said. (http://s.nikkei.com/23C81i1)

Apple was not immediately available for comment.

The company's shares fell more than 1 percent to $110.96.

(Reporting by Sai Sachin R in Bengaluru; Editing by Don Sebastian)