Analyst: Apple Cut Production Orders for iPhone by 20 Percent for Second Half of 2013

Brian Blair, an analyst at Wedge Partners, said in a note that Apple has cut production of its iconic smartphone by a fifth in the second half of the year, as it responds to an ongoing slowdown in growth.

He said the cut in orders, which applies to all iPhone models, was likely to be a reaction to flagging demand "globally". Apple is now set to produce 90m to 100m handsets in the second half of the year, down from earlier estimates of 115 to 120m units.

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