Apple slashes iPhone 5 part orders after demand nosedives

Apple's shine sure is fading when it comes to iPhones.  The tech giant has slashed orders for iPhone 5 parts after weaker-than-expected demand and growing popularity of Android products, according to a new report in the NY Post

Citing sources familiar with the situation, the Wall Street Journal reported Monday that first quarter orders for iPhone 5 screens were roughly half of what Apple previously planned to order.  Orders for components other than screens were also cut.

Apple’s stock price dropped $17.45 or 3.4 percent to $502.85 in premarket trading Monday and the news comes as the company has been facing increased competition from Samsung and other makers of smartphones that run Google’s Android operating system….

Read all about it at http://www.nypost.com/p/news/apple_slashes_iphone_part_orders_DD7D5ovRrmygGQ8M3MU0WP