Apple to trim the production of iPhones by about 10 percent in 2017

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Apple Inc will trim production of iPhones by about 10 percent in the January-March quarter of 2017, the Nikkei financial daily reported on Thursday, citing calculations based on data from suppliers.

The company had slashed output by 30 percent in January-March this year due to accumulated inventory, reports Reuters.

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Apple’s shares were down 0.84 percent in midday trading, in line with the Nasdaq stock index. An Apple spokeswoman declined to comment on the report.

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