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A year ago Patently Apple posted a report titled "No the Sky isn't falling, it's just a Normal Seasonal iPhone Adjustment Period after a Busy Holiday Quarter".

Foxconn, which assembles the vast majority of Apple devices, including the iPhone, is one of the first to report falling revenues following Tim Cook's open letter to investors warning of weak iPhone sales. The report indicates that Apple is going to reduce production from 43 million units to 40 million iPhones.

The Nikkei writes: "Apple is cutting its current production plan for new iPhones by about 10% for the next three months in a sign that the US smartphone maker is expecting a further hit this year, just a week after its market-shaking revelation that it would miss revenue forecasts at the end of 2018".

Apple's newest smartphone, the iPhone XR made a whole lot of buzz a year ago when it launched because of its different design and looks along with the lower than the usual price tag. Sources say that Apple contacted suppliers last month, telling them to produce fewer iPhones for the current quarter.

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Lennard has since been in contact with Mayorga's team and will be looking to share her evidence with them. He and his lawyers have repeatedly denied the rape allegations .

While Apple's stock has suffered lately from a string of news that has disturbed investor confidence, Sculley said the public does not always get a glimpse at the "big" plans that a company's officers are discussing behind closed doors. But it's also a drop of over 20 percent when you look at the 52.21 million iPhones that Apple sold in the year-ago quarter. At the time, analyst Holger Mueller of Constellation Research Inc. told SiliconANGLE that decision to stop reporting iPhone sales would allow Apple to "hide potential issues" regarding its business.

Market research firm Canalys estimates shipments fell 12 percent in China previous year and expects smartphone shipments in 2019 to dip another 3 percent, to below 400 million for the first time since 2014.

As ever, Apple has jacked up iPhone prices higher than ever with the new models, at least partially to ensure ongoing returns in a slowing market. "If it wants to reverse the trend, it needs a feature-rich, compelling iPhone cycle in 2019 that also needs to be priced right".

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st.