Apple shares hit a 15-month low as we pass peak iPhone 6

The company is expected to release the next generation of its iconic smartphone during 2016

Apple’s share price hovered just above the $100 mark in US trading last night, its lowest level since October 2014 after a number of reports from Asia of reduced advanced iPhone orders with suppliers.

Nikkei, the new owners of the Financial Times, wrote in its Asian Review that Apple had cut iPhone orders by as much as 30%.

Foxconn, a contracted manufacturer of the phones in China, confirmed it had been offered financial incentives by the provincial government in Henan Province to maintain staffing levels, despite cutting production

Apple, which declined to comment on the reports, did say yesterday that iPhone and iPad owners had spent more than $20bn on apps from the App Store in 2015, an increase of one-third on the previous year.

The company keeps some 30 cents out of every dollar spent in its store - it enjoyed its biggest day of app sales on the 1st of January.

The tech giant added that the creation of iOS apps directly or indirectly supports 1.9 million jobs in the U.S.