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Apple Shares Close Low as Firm Reduces Screen Orders -- City Index UK

LONDON -- (Marketwire) -- 01/15/13 -- City Index UK -- Shares in Apple closed lower on the Nasdaq last night (January 14th) as the technology giant reduced its orders from suppliers by around 50 per cent for its latest model.

Read Full Article: Apple shares close low as firm reduces screen orders

The Nikkei newspaper in Japan reported that the Californian technology giant has cut its requirement for parts from screen manufacturers for its iPhone 5 model.

It has been suggested that this course of action indicates weakening demand for the new smartphone, which was released in September 2012, while some analysts have revised down their estimates for the number of iPhones sold, which Apple is due to announce in its quarterly annual results next week.

The Guardian reports that Apple made a similar move to cut orders for its iPhone 4S in 2011, but that quarter led to the sale of a record-breaking 37 million models.

At close of play in New York last night, shares in Apple fell by 3.5 per cent to $501.75 per unit.

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