Slumping iPhone demand causes layoffs, slashed profit forecasts

Apple's iPhone gravy train is thinning out.

A pair of reports from the Nikkei Asia Review show how effects for lowered demand for new iPhones is rippling along Apple's supply and manufacturing train. 

SEE ALSO: It's official: iPhones are too expensive

iPhone assembler company Foxconn has reportedly terminated 50,000 contract iPhone workers early over the past few months. And component suppliers Taiwan Semiconductor Manufacturing Co. and Nidec have each slashed their product forecasts by 22 and 25 percent, respectively.

On the second day of 2019, Apple paused stock trading and informed investors that it had to reduce its profit forecasts thanks to decreased iPhone demand, particularly in China. When Apple stock came back online, it lost billions in its stock value.  Read more...

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✍ Source : ☕ Mashable

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