Apple shares take a beating amidst reduced iPhone 5 order rumors

Reports suggesting that Apple has reduced its orders for the iPhone 5 display panel by half have resulted in a 3.5% fall in the shares of the Cupertino based company.Screen Shot 2013-01-15 at 12.18.33 PM

Speculation is ripe that Apple has reduced the iPhone screen orders as demand seems to have fallen for them in the wake of intense competition, namely from arch rival Samsung.

Samsung has already overtaken Apple as the world’s largest Smartphone vendor by market share. The Galaxy S series of Samsung Smartphones have managed to sell 100 million units as of Monday, which is a testament to its ever rising popularity.

Apple’s share price has fallen 28% since peaking at a record  $702.10 in September.

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