According to Nikkei News, people familiar with the matter have revealed that Apple plans to cut production of AirPods wireless earphones by 25 to 30 percent this year, as increased competition has weakened sales of the company's fastest-growing product line.

The growing competition from Asian tech firms including Xiaomi, Samsung and Huawei is driving Apple to slash AirPods production this year.

Apple is now expected to produce between 75 million and 85 million units in 2021, compared with a previous production forecast of 110 million units. The downward revision to the data suggests that market demand for AirPods is waning.

A person familiar with the matter said, "The most significant decrease in orders was late in the second quarter and early in the third quarter, and inventory levels of AirPods in warehouses and stores are currently high, but demand is not as strong as expected."