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Technology giant Apple is reportedly cutting production orders for its three newest iPhones on the back of weaker demand.

The group’s share price struggled in response, falling around 4% on 19 November, on media reports it had told suppliers to cut production of the iPhone XR by a third, with plans to potentially further trim production.

The reports come as no surprise after Apple announced a below expectations sales forecast for the Christmas quarter. The semi-conductor industry has since struggled, including Lumentum the supplier of Apple’s FaceID technology, which fell 33% earlier this month after it warned one of its “largest industrial and consumer customers” reduced shipments.