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Apple cutting orders for iPhone 5

 

Apple shares are falling in premarket trading after The Wall Street Journal reported the company has cut its orders for iPhone 5 components due to weaker-than-expected demand.

The newspaper says two people it did not identify by name told it that Apple's first-quarter orders for iPhone 5 screens have dropped to about half of what the company had planned to order.

The report says one of the sources told the newspaper the US-based company has also cut orders for components other than screens. The Journal says it was told Apple notified the suppliers of the order cut last month.

Apple didn't immediately return an email seeking comment.

Apple shares dropped $US18.81, or 3.6 per cent, to $US501.49 in premarket trading on Monday.

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