Apple to cut iPhone production in January-March quarter: report

Apple Inc will trim production of iPhones by about 10% in the January-March quarter of 2017, the Nikkei financial daily reported, citing calculations based on data from suppliers. 

The company had slashed output by 30% in January-March this year due to accumulated inventory, the paper said on Dec 29. 
Apple's shares were down 0.84% in midday trading, in line with the Nasdaq stock index. 
An Apple spokeswoman declined to comment on the report. — Reuters