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Trade war

Apple suppliers feel 'extraordinary' change in China demand

TSMC and Nidec cut 2019 forecasts as trade war holds back global economy

Nidec Chairman Shigenobu Nagamori stands to leave a press conference in Tokyo on Thursday. The "maestro of M&A" said he was stunned by China's slowdown. (Photo by Takaki Kashiwabara)

TAIPEI/TOKYO -- Major Asian Apple suppliers are slashing their 2019 sales forecasts, with some citing the "extraordinary" drop-off in Chinese demand, as the trade war casts a wide shadow over the global economy.

Taiwan Semiconductor Manufacturing Co., the world's biggest contract chipmaker and sole supplier of iPhone core processor chips, and Japan's Nidec, sole supplier of the motor that makes iPhones vibrate when receiving calls or texts, are the latest to deliver downbeat assessments for 2019. TSMC expects a 22% drop in revenue for January to March, while Nidec has cut its full-year profit outlook by more than 25%.

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