Shares of Apple and suppliers hit by report of cut in iPhone production

Taipei

APPLE Inc is expected to cut production of its latest iPhone models by about 30 per cent in the January-March quarter due to mounting inventories, the Nikkei reported, rattling the nerves of investors in the US giant's Asian suppliers.

As inventories of the iPhone 6s and 6s Plus have piled up since they were launched last September, production will be scaled back to let dealers go through their current stock, the business daily reported.