As iPhone sales drop, Apple reportedly asks suppliers to cut their component prices
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As if we needed more confirmation that iPhone sales aren't doing as well as analysts expected, an index of 19 Apple suppliers tracked by Nikkei, is showing a revenue slump for the first time since 2016.
The Taiwanese company Catcher that makes the metal frames for the iPhone X, had a disastrous 28% decrease in December revenue and the iPhone camera lens maker Largan Precision managed to beat it with 33.86% drop in sales then.
The revenue of Apple's chief assembler - Foxconn - fell 8.27% in December from the same period last year, too, which the company attributes to "the relatively large scale decline in the consumer electronics segment."
Apple attributes the slower-than-expected iPhone sales to the US trade war with China and other external factors and has reportedly asked suppliers to cut their prices 10% which would mean a pretty terrible quarter for them as the price drop would come on top of diminished sale projections.
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