Apple reportedly slashed iPhone orders by 20%

A new report claims that Apple may have cut its iPhone production orders by 20% for the second half of the year. Brian Blair of Wedge Partners said recently, per CNBC, that his channel checks have revealed that Apple likely cut iPhone orders to between 90 million and 100 million units, down from between 115 million and 120 million units. The analyst also reiterated his belief that the company will produce a low-cost iPhone. He noted that the device will likely be “something similar” to the current iPhone 4 but it will include “a plastic back instead of a glass back,” which will “allow Apple to sell it at a lower cost.” Blair said that he also expects the low-cost iPhone to include similar internal components as the iPhone 4. As for the production cuts, the analyst explained that Apple is likely reacting to “slowing growth” in the high-end smartphone market.