Thursday January 23, 2020
Home Business Apple Loses $...

Apple Loses $60bn Over Reports Of Weak Smartphone Demand in 2018

Apple suffers a huge loss due to low smartphone demand in 2018

0
//
Apple
First 5G iPhone to hit the stores in 2020: Report. Pixabay

Apple lost over $60 billion in market cap in two days after Taiwan Semiconductor, Apple’s biggest supplier, said in an earnings update that second-quarter revenues would be hit by “weak demand from the mobile sector”.

Apple shares fell nearly seven per cent on Thursday and Friday over reports of a sharper slowdown in smartphone sales this year, Financial Times reported late on Friday.

Not just Apple, the news led to several global chipmakers losing market valus, including Analogue Devices, Dialog Semiconductor, Qualcomm and Qorvo.

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

Tim Cook
Tim Cook. Wikimedia Commons

In another setback for the iPhone maker, its efforts to get LG Display’s OLED screens for future iPhone production line “have hit manufacturing issues”, the Wall Street Journal reported on Friday.

Apple is reportedly divided on whether LG will be able to succeed as Samsung’s replacement for OLED displays.

The Cupertino-based company currently uses Samsung’s OLED displays for iPhone X.

The LCD panels which are currently being used in the iPhone 8 and iPhone 8 Plus are supplied by LG. Apple Watch screen is made by LG Display.

Also Read: Apple Marks Earth Day With Donations

There are reports that Apple is designing and producing its own device screens, secretly at a facility near its headquarters in California.

It is believed that Apple will switch to OLED displays for all of its iPhone releasing in 2019.  IANS

Next Story

Apple To Start Production of Low-Cost iPhone Soon

Planning for the new handset was reported in September by Japanese news outlet Nikkei Asian Review

0
Apple
Apple is reportedly ready to return to the low-cost phone market after an absence of four years. Pixabay

The low cost successor to iPhone SE is getting into mass production next month and Apple could release it in March.

Apple is reportedly ready to return to the low-cost phone market after an absence of four years, CNET reported on Tuesday.

The handset — believed to be comparable in size to the 4.7-inch iPhone 8 from 2017 — would be Apple’s first low-cost smartphone since 2016’s $399 iPhone SE.

It is pertinent to note that the iPhone SE was one of company’s most successful mobile devices in the past half-decade because of a combination of reasons.

Price was a factor but it also offered long-time iPhone fans a reprieve from all the design changes that Apple was doing.

Apple
The low cost successor to iPhone SE is getting into mass production next month and Apple could release it in March. Pixabay

Planning for the new handset was reported in September by Japanese news outlet Nikkei Asian Review.

ALSO READ: Samsung India Grabs Top Position in Refrigerator Market With 33.9% Market Share

The phone will share most components with the current line up of iPhones and use a cheaper LCD display to keep the cost low, according to the Japanese paper, the CNET report added. (IANS)