Apple cuts orders for iPhone 5 parts on weak demand-Nikkei

Shares in Apple dipped below US$500 for the first time in almost one year after reports it is slashing orders for screens and other components as intensifying competition erodes demand for its latest iPhone.

Japan’s Nikkei reported on Monday that the world’s largest technology corporation began sharply reducing buying of liquid crystal displays about a month ago from suppliers like Japan Display and Sharp.

via Business feed http://www.scmp.com/business/companies/article/1128471/apple-cuts-orders-iphone-5-parts-weak-demand-nikkei