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Apple Loses Over $60 Billion in Market Cap on 'iPhone Fears'

Apple lost over $ 60 billion (roughly Rs 3.97, 420 crores) in market capitalization in two days after Taiwan Semiconductor Manufacturing Co. (TSMC), Apple's largest supplier, said in an update of earnings that revenues in the second quarter would be affected by "weak demand from the mobile sector". Separately it is alleged that Apple supplier LG Display was struck by manufacturing issues for OLED screens intended for upcoming iPhones, while an analyst claimed the Iphone X was dead.

Apple shares fell on Thursday and Friday with nearly 7 percent reports of a sharper slowdown in smart phone sales this year, Financial Times reported late Friday and called market sentiment & # 39; iPhone fears & # 39; . The decline was called the worst, as Apple reported a decline in iPhone sales in February.

Not only Apple, the news led to several global chipmakers losing market values, including analog devices, Dialog Semiconductor, Qualcomm and Qorvo.

For the first time since 2009 sales of smartphones in China fell last year, while worldwide sales in the fourth quarter of 2017 fell for the first time since 2004.

iPhone family in 2018 will Begin at $ 550, including dual-sim variants: KGI & # 39; s Ming-Chi Kuo

In a new setback for the iPhone maker, the efforts to hit the OLED screens of LG Display for the future iPhone production line "manufacturing issues", the Wall Street Journal reported Friday.

Apple is reportedly divided over whether LG will succeed as a replacement for Samsung for OLED screens.

The company from Cupertino is currently using the OLED screens from Samsung for the iPhone X.

The LCD screens currently used in the iPhone 8 and iPhone 8 Plus are provided by LG. The Apple Watch screen is made by LG Display.

There are reports that Apple designs and manufactures its own device screens, secretly in a factory near the California headquarters.

It is believed that Apple will switch to OLED screens for all its iPhone releases in 2019.

Finally, according to a report from CNBC, Mirbaud Securities analyst Neil Campling said the record stock levels of TSMC due to the fact that Apple is not buying components for the future iPhone X models, which indicate that the company would kill the model this year, after the introduction of new models in the iPhone X series. He said that while the older stock of the iPhone X will continue to be sold, no new units will be produced by the company.

"With the drop in orders for iPhone X and the inventory problem at TSMC at record highs, which are actually a reflection of the need to burn inventory." Why? Because the iPhone X is dead, "Campling wrote in his letter.

" The simple problem with [iPhone] X is that it is too expensive, "Campling told CNBC, adding:" Consumers are turning back expensive smartphones "Mirbaud Securities has tracked TSMC inventory data for more than a decade.

Campling's prediction reflects that of KGI Securities analyst Ming-Chi Kuo, who said in January that the iPhone X" to the end of life would come around mid-2018. "The total shipments would be about 62 million units, considerably lower than previous estimates of about 80 million units.

Written with inputs of IANS


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Apple Loses Over $60 Billion in Market Cap on 'iPhone Fears'


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