iPhone XR sales predictions from famed analysts Ming-Chi Kuo were just revised downwards by the whopping 30%, for instance, and many other research shops have confirmed the production order cuts based on their supply chain sources. That same supply chain is now "shocked" by the decline in Apple orders, reports Korean media, as for some makers of semiconductors, displays, camera modules, flexible printed circuit boards and batteries for the new iPhones, that represents half of their business.The
Thus, revenues are being revised down at LG Innotek, Samsung's Display, Electro-Mechanics, and SDI subsidiaries, as well as small suppliers like BHI and SEMCO. LG Innotek, for instance, hit a 52-week low for its shares today, on the heel of Apple's iPhone production cuts. The solution that industry insiders are proposing? Diversification away from Apple and Samsung into supplying parts for Chinese smartphone makers, but that is going to take a while to hold.