View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Software
January 14, 2013

Apple shares drop over iPhone 5 order fears

The decline in stock was also over Apple's introduction of a smaller, less pricey iPad that has been claimed to be cutting into the firm's profits

By CBR Staff Writer

Apple’s share prices have dived 3.5% to below $500, following reports that the company cut orders for iPhone 5 parts due to weak demand.

Nikkei Japanese news service reported that the firm has nearly halved its orders for liquid crystal displays for the January to March 2013 quarter.

According to Nikkei, the company had ordered about 65 million iPhone screens for the January-to-March quarter this year from its parthers including Sharp and LG Display.

The company reported to have requested its partner to reduce its production at its facility in southwest Japan up to 80% from October-December. While production at Sharp’s iPhone 5 LCD manufacturing facility will be cut by 40% during January-February.

The decline in stock was not only over concerns about iPhone 5 sales, but also over reports of Apple’s plan to introduce of a smaller and less expensive iPad.

There are fears that the Apple has been struggling to compete with its rivals in Asia, including Samsung Electronics.

Samsung has already surpassed Apple as the world’s largest smartphone vendor by market share and its Galaxy S series sales have surpassed 100 million since its launch in May 2010.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

However, Strategy Analytics has projected that Samsung smartphone sales will reach 290 million units in 2013 over iPhone sales of 180 million.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU