Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Tech
News18 » Tech
1-min read

Apple's Asia Suppliers Struggle With Falling Share Prices, Amid Fears of Weak iPhone Sales

The Cupertino, California-based tech giant's shares fell to their lowest in more than three months on Monday after three suppliers cut their forecasts for iPhone sales in the coming holiday season.

Reuters

Updated:November 13, 2018, 10:57 AM IST
facebookTwitterskypewhatsapp
Amazon India Apple Fest: Deals on iPhones, iPads, MacBooks And More
Amazon India Apple Fest: Deals on iPhones, iPads, MacBooks And More
Loading...

Shares in Asian suppliers and assemblers for Apple Inc fell on Tuesday due to profit warnings that point to weakness in iPhone sales. Taiwan-based assembler Hon Hai Precision Industry Co Ltd (Foxconn) dropped more than 3 percent and rival Pegatron Corp fell more than 5 percent. Both companies count Apple as one of their major customers.

The Cupertino, California-based tech giant's shares fell to their lowest in more than three months on Monday after three suppliers cut their forecasts for iPhone sales in the coming holiday season. Lumentum Holdings Inc, the main supplier of the Face ID technology in the latest generation of iPhones, cut $70 million off its revenue forecasts. Screen maker Japan Display Inc cited lower smartphone demand in cutting its outlook, while British chipmaker IQE Plc said it expects a reduction in its performance this year.

Apple warned earlier this month that holiday sales would miss Wall Street expectations due to weakness in emerging markets including India and foreign-exchange costs. Apple began shipping the iPhone XR on Oct. 26 after two weeks of pre-orders. The company had released the more expensive iPhone XS and XS Max more than a month earlier.

Shares in other Taiwan-based Apple suppliers also fell sharply on Tuesday. The world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co, fell 2.6 percent and camera lens-maker Largan Precision Co Ltd slid 3.6 percent. The Taiwan Weighted Index was down around 1.6 percent. Among other Apple suppliers in the region, Hong Kong-based acoustic components maker AAC Technologies Holdings Inc fell more than 6 percent.

South Korean electronic parts suppliers Samsung Electro-Mechanics Co Ltd, Apple's supplier of multi-layer ceramic capacitors, dropped more than 5 percent, while LG Innotek Co Ltd plunged 9.5 percent. Japan's Nikkei daily reported earlier this month that Apple had told Foxconn and Pegatron to halt plans for additional production lines dedicated to the iPhone XR, the cheapest of this year's new launches.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: ---
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results