Apple has cut component orders for the iPhone 5 after lower-than-expected sales for the Silicon Valley giant’s iconic device.
The company’s screen order through the end of March has dropped to nearly half of what was previously anticipated, sources told the Wall Street Journal.
Last month Citigroup lowered its rating for Apple from “buy” to “neutral” due to concerns about iPhone order cuts and noted that a sharp increase in iPhone 5 production during the fourth quarter most likely left Apple with more inventory than expected.
Apple wouldn’t comment to the WSJ.
This assumed decrease in sales can most likely be attributed to the rising popularity of smartphones that operate on Google’s Android operating system. Samsung, one of Apple’s main competitors, has become the largest smartphone vendor by market share.
Despite the news, Apple’s iPhone remains the most popular smartphone in the world. According to our list of hottest selling smartphones at U.S. carriers, it was still tops in December at AT&T, Sprint and Verizon Wireless.
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