Apple cuts iPhone 5 part orders due to “weak demand”

Apple has reportedly decreased orders for LCD screens and other iPhone 5 parts due to “weak demand.” The company has asked Japan Display Inc., Sharp, and LG Display Co. to cut their LCD panel shipments by about 50 percent, according to sources — down from 65 million screens in the first quarter, leading observers to believe sales aren’t as high as Apple expected. Other component orders were also decreased. Apple has not yet commented on the reports, which have apparently contributed to declines in its stock this morning. [via San Jose Mercury News]