Apple plans on cutting the production of the iPhone 6s and 6s Plus by 30% in Q1 2016 (Nikkei). According to Nikkei, the iPhone 6s, and iPhone 6s Plus inventory has piled up at many retailers around the world which have caused Apple to cut production of the iPhone from January throughout March to remove additional stock.

Initially Apple told their suppliers to continue the production of the iPhone 6S and 6S plus for Q1 2016 at the same rate, however, the sales decreased, and this led Apple to make the decision of cutting production. This rumored 30% cut is a significant production drop, and this has investors worried about Apple's future.

"But inventories of the two models launched last September have piled up at retailers in markets ranging from China and Japan to Europe and the U.S. amid lackluster sales. Customers saw little improvement in performance over the previous generation while dollar appreciation led to sharp price hikes in emerging markets."

According to Nikkei's report, Apple stock has fallen 2% and hit a low of $102.41 Tuesday.

 


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