Apple will reportedly manufacture 10% fewer iPhones this quarter

Apple Inc. is cutting its current iPhone production by about 10% for the next three months the Nikkei Asian Review reported on Wednesday

This, the publication says, is the second time it's explicitly lowered the production of its new, flagship iPhones.

China is cited as the reason for weakening iPhone sales as that country's economy slows, which has been impacted by a trade war with the United States.

The Cupertino, California, company asked suppliers to make fewer of its newest iPhone models - the XS, the XS Max and the XR - for the quarter, Nikkei Asian Review reported Wednesday, citing unidentified sources.

The request was made before Apple cut its forecast last week, Nikkei said. The bleaker sales outlook, which Apple attributed to weak China demand, triggered a broad sell-off in global stock markets. This figure is derived from sources apparently familiar with this request, and applies to the first 3 months of 2019. The report indicates that Apple is going to reduce production from 43 million units to 40 million iPhones. As the Nikkei Asian Review reports, this "is the second time in two months that the USA company has trimmed its planned production for the flagship device".

Shares of Foxconn, the world's biggest electronics contract manufacturer, were up 1.6 percent while Pegatron was up 1.3 percent.

Chief Executive Tim Cook reiterated in an interview with CNBC on Tuesday that India was a major focus for Apple.

A new report claims that Apple has cut production of new iPhones by another 10 percent in the wake of its blockbuster sales warning.

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