People apparently don’t want the iPhone 5 as bad as Apple had thought, forcing the firm, one of the most valuable companies in the world, to cut orders for components, people familiar with the situation have made known.
According to the Wall Street Journal, Apple’s orders for iPhone 5 screens for the January-March quarter have been reduced to approximately half of what had previously been planned. Orders for other components have also been reduced.
Apple is said to have informed its suppliers of the cuts last month.
This follows the reality of Apple’s slipping market share in the mobile space from 21 percent in Q3 2011, to 14.6 percent in Q3 2012. Apple’s main rival in the mobile market space, Samsung, has seen exponential growth each quarter, with a worldwide market share which now stands at 31.3 percent.
Apple’s latest earnings report will come in the next few weeks.