Apple to cut iPhone production Q1 of 2017

Apple Inc. will trim production of iPhones by about 10 per cent in the first quarter of 2017, the Nikkei daily reported, citing calculations based on data from suppliers.
The company had slashed output by 30 per cent in January-March 2016 due to accumulated inventory, the paper said.
Apple’s shares were down 0.84 per cent in midday trading, in line with the Nasdaq stock index.
An Apple spokeswoman declined to comment on the report.