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iPhone 5 Demand Weakens, Apple Cuts Screen Orders

Apple is said to have cut orders of the iPhone 5 screens by around 50 percent last month due to the demand of the device weakening.

The technology giant reduced its orders last month for iPhone 5 screens for the first quarter of 2013 by around half its original target, sources told The Wall Street Journal. It also purportedly cut orders for other screen sizes, as well as reducing orders for other components.

During December, UBS analyst Steven Milunovich reduced his iPhone sales estimates for the March, June, and September 2013 quarters by 5 million units each quarter. He believes the company won't experience the same success it did during 2012.

In related news, Apple is suffering its largest share price drop in four years.

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