Fears of peak iPhone sales rattle Asian Apple suppliers
14 November, 2018, 05:38 | Author: Shawna Walton
Additionally, Reuters is reporting today that Apple's major supplier for the technology used in Face ID, a company called Lumentum, has cut its forecasts for revenue and profits.
The latest warning sign was Lumentum Holdings Inc. cutting its second-quarter outlook after one of its largest customers asked to "meaningfully reduce shipments" for previously placed orders.
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.
Kuo now expects Apple to ship 70 million iPhone XR units during the holiday quarter, down from his original forecast of 100 million units.
"Apple could have accumulated too much Lumentum inventory, and needs to work it off, in which case the unit shortfall is less, although it is still indicative of weak iPhone sales".
Apple shares fell 5 percent on Monday, but Lumentum slumped more than 30 percent and rival II-VI Inc. dropped 13 percent.
Apple didn't respond to a request for comment.
In the fourth quarter, Apple sold 46.9 million iPhones, missing analyst expectations of 47.5 million iPhones, according to FactSet.
Kuo's forecast follows a report last week that described two of the company's largest suppliers, Foxconn and Pegatron, being told to halt plans for additional iPhone XR production lines.
Most of the new iPhones are priced at $999 and up, with the tricked-out iPhone XS Max going for as high as $1,449. In other words, whether or not iPhone XR sales are above or below projections is arguably irrelevant as long as Apple keeps finding ways to boost revenue, which is clearly more important than how any one specific iPhone model is doing in the marketplace.
Apple's iPhone XR, which boasts the iPhone X's edge-to-edge display, albeit using older LCD pixels instead of the X's high-resolution OLED screen, was widely expected to fuel a massive wave of upgrades from users of the iPhone 6S or earlier models.
The analyst in his research note has also said that customers expect dual-cameras and a narrower bezel at this price point.
"Although Apple has positioned itself as a super-expensive handset maker providing high-end products, its strategy has not been working in emerging markets including China and India as Chinese vendors have been making iPhone-like products", he said.
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Alibaba's slowed growth may be due to trade tensions between China and the United States, which has weakened the economy in China. Singles' Day, also called "Double 11" is the world's biggest online sales event, outstripping USA shopping holiday Black Friday .
Delays to Ms Trinh's case being heard on Monday morning were due to her lawyer seeking a translator, the court heard. Police said the 50-year-old was arrested on Sunday " following a complex. and extensive investigation ".
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He said that local election supervisor Brenda Snipes, a Democrat, has a "horrible history" and is "finding votes out of nowhere". But Palm Beach was also the home to the infamous "butterfly ballot" that many Democrats believe cost Gore the election.
The company said it only affects the original iPhone X , which has been superseded by the iPhone XS and XR released this autumn. Apple representatives did not immediately respond to a request for further comment on the deal.
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