Apple has dramatically cut component orders for the iPhone 5 amid weaker than expected demand for the device.

The California-based tech giant has reportedly slashed the number of screens it wanted in half and reduced orders on other parts too.

Apple is said to have have told its suppliers about the change last month. It will apply to orders from now until the end of March.

Shares of the company dropped dramatically on Monday on news of the sales drop. Apple stock dropped $18.55 a share, or 3.57 percent.