Apple has reportedly cut its orders for iPhones from its suppliers by a third in response to weak demand for the new Xs and Xr models. The saturation of the U.S. handset market appears to be an established fact of life. U.S. imports of mobile phones fell 2.3% in handset terms in September vs. a year earlier. That meant the 12 month total fell to 219.8 million units from a peak of 260.1 million in the 12 months to March 2015.

Apple has reportedly cut its orders for iPhones from its suppliers by a third in response to weak demand for the new Xs and Xr models. The saturation of th...