Demand for this year's iPhone model may not match what's been seen with previous phones. Nikkei reports Apple has been "more conservative" with its Advanced Semiconductor Engineering chip orders, suggesting it believes the iPhone 7 will face weaker demand.

Tien Wu, an ASE executive, stated a "big client in the US" had been a "little more conservative when placing orders this year." That client is Apple.

Reports have reliably claimed the iPhone 7 won't turn around Apple's declining year-over-year sales in the smartphone market, largely because the phone won't be innovative enough.