Apple slashes orders for iPhone 5 parts

Tuesday, 15 January 2013 - 11:33am

Apple slashes orders for iPhone 5 parts

The US tech giant saw its shares drop 3pc as it was revealed it had halved orders for touch screens on the phone.

According to reports from Japan, Apple asked Sharp, LG and Japan Display to cut supply of the LCD panels used in its iPhone 5. Analysts were divided on whether this reflected weak demand or whether Apple was gearing up to launch a new iPhone sooner than expected.

The reports come with Apple facing increasing pressure in the smartphone market from Samsung. The South Korean giant increased its share of the smartphone market to 31.3pc in the third quarter of last year, according to analysts IDC, more than double Apple's 14.6pc share.