Apple is reportedly cutting iPhone production by 10% over the next 3 months, further signalling the firm's woes

Reuters

Apple CEO Tim Cook.

• Apple is cutting iPhone production by 10% between January and March, according to the Nikkei Asian Review.
• It is reportedly the second time in two months that Apple has trimmed production plans.
• The revelation comes just a week after Apple shook global markets with its first earnings warning in nearly 17 years.

Apple is cutting its production plan for new iPhones by about 10% between January and March, the Nikkei Asian Review reported on Wednesday.

The company late last month asked its suppliers to produce fewer of its new iPhones than planned in the first quarter of 2019, Nikkei said, citing sources with knowledge of the request.

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It said the planned production volume for new and old iPhones, including the XS Max, XS, and XR, will fall to between 40 million and 43 million units. This is down on the previous projection of 47 million to 48 million units.

Read more: Tim Cook repeats one of Steve Jobs' favorite sayings to defend Apple during its slump: 'It just works'

It is the second time in two months that Apple has trimmed production plans, Nikkei said.

The revelation comes just a week after Apple shook global markets with its first earnings warning in nearly 17 years, in which it said revenue would be more than 7% lower than it expected.

Among a shopping list of reasons for the revised projection, Apple blamed weakness in the Chinese economy and US President Donald Trump's trade war.

Business Insider has contacted Apple for comment. The company did not respond to Nikkei's request for comment.