Shares of Sharp and other suppliers of iPhone parts to Apple have fallen after reports of a cut in orders for the iPhone 5. Apple has reduced orders by about 50% for its latest model, according to the Nikkei newspaper in Japan. Sharp, which makes display panels for the device, slumped as much as 7% in Tokyo trade. Speaker-maker ACC Technologies fell 4.2% in Hong Kong. Apple shares hit an 11-month low in New York on Monday after the report. Apple has seen increased competition in the smartphone market in recent months. South Korea's Samsung Electronics, which offers a wider variety of smartphones, recently overtook Apple as the world's largest smartphone maker by market share. Some analysts have said that Apple will need to come out with a cheaper smartphone to target customers in emerging markets. BBC
