As iPhone sales drop, Apple reportedly asks suppliers to cut their component prices

Foxconn December sales plunge as users abandon iPhone (Nikkei)
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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