Economic news

Shares of Apple lose 2% as suppliers are told to cut iPhone parts production

Apple’s shares declined 2% today during premarket trading in the United States, on the heels of the news that the tech company asked suppliers to decrease production of iPhone parts by 20% in the second six months of the year.

As reported by the Nikkei news outlet that acquired the information from anonymous sources, the Cupertino firm placed fewer orders as it treats future 2018 shipments of the device with caution.

It is said that three new models are in the pipeline and will hit the market in the second half of this year, when traditionally Apple presents new devices.

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