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Apple shares down 2% after reports to cut production of "iPhone X"

2018-01-29 03:51 pm | Resource: News Section | No Views : 274

Apple shares down 2% after reports to cut production of "iPhone X"

Apple fell 20 per cent on Monday, the worst performer in Dow Jones.
The drop came after media reports that the production of iPhone X was halved due to poor sales and many complaints.
By 3:09 pm GMT, Apple fell 2 percent to $ 168.13.
The shares of the US company faced strong pressure after news reports revealed that Apple plans to reduce its production target of iPhone X to 20 million units in the first quarter of the new year.
Apple is expected to maintain a total production target of 30 million units of the lowest-priced versions, the report said.

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