The iPhone 5 has come under a lot of scrutiny lately, with both analysts and Apple suppliers claiming that they’ve seen disappointing demand for the device, but now it seems that demand for the iPad mini may be falling as well. Bloomberg reports that iPad mini manufacturer Pegatron is projecting that its second-quarter revenue “will drop 25% to 30% from the previous three months,” which marks the biggest drop since “a 37% decline in the fourth quarter of 2011.” Pegatron CEO Jason Cheng said that falling demand for Apple’s smaller tablet was a significant part of the plunge in revenues, while adding that it’s “not just tablets, also e-books and games consoles, almost every item is moving in a negative direction.” Bloomberg says that the iPad mini accounts than more than 50% of Pegatron’s revenue.

UPDATE: Pegatron CEO Jason Cheng has sent an email to Fortune refuting aspects of Bloomberg’s original report. In particular, Cheng says that he “clearly refused to comment on specific products, nor customers, even though he continued with other questions,” so it’s not clear now whether falling demand at Pegatron is due to iPad mini demand or not.