has told companies that assemble its smartphones to halt plans for new production lines that would add iPhone XR capacity, the Nikkei Asian Review reported Monday. The report, which cites multiple unnamed sources, said that Apple has given these instructions to Hon Hai Precision Industry Co. Ltd.
better known as Foxconn, and Pegatron. Apple increased orders for the iPhone 8 and iPhone 8 Plus, two cheaper devices that launched a year ago, according to sources. The report comes a few days after Apple delivered a disappointing December-quarter earnings outlook and disclosed that it would stop reporting unit-sales figures for its various product lines. The company didn’t immediately respond to a MarketWatch request for comment. Apple shares are off 1.6% in premarket trading, and they’re down 7.5% over the past month. The Dow Jones Industrial Average
has slipped 4.5% in that time.
Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.