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Apple To Cut iPhone Production In January-March Quarter: Report

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Apple Inc will trim production of iPhones by about 10% in the January-March quarter of 2017, the Nikkei financial daily reported, citing calculations based on data from suppliers.

The company had slashed output by 30% in January-March this year due to accumulated inventory, the paper said on Dec 29.

Apple’s shares were down 0.84% in midday trading, in line with the Nasdaq stock index.

An Apple spokeswoman declined to comment on the report. — Reuters

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