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Exclusive: Apple cuts iPhone production plan by 10%

New year opens on gloomy note after company's recent shock downgrade

This is the second time in two months that Apple trimmed its planned production, which applies to all new iPhone models.   © Reuters

TAIPEI -- Apple is cutting its current production plan for new iPhones by about 10% for the next three months in a sign that the U.S. 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.

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