Shares in Apple suppliers across Asia promptly crashed after the launch of the latest iPhone

Getty/Mike Powell

Major suppliers for iPhone parts are tanking in Asian trade.

It follows the unveiling of Apple’s latest model iPhones overnight — the iPhone 8 and iPhone 8 Plus as well as the iPhone X.

The South China Morning Post (SCMP) reported that a number of supplier companies on the Shengzhen and Shanghai stock exchanges saw their share prices fall today.

Zhejiang Quartz Crystal Optoelectronic Technology — a company which supplies optical filters for the iPhone camera — led the falls, dipping by as much as 9% in the morning session.

The stock was bid up in the week leading up to the launch, but a short time ago it was down more than 6% in afternoon trade:

Other Chinese suppliers that dipped following Apple’s announcement ranged from acoustic component-makers to touch-panel manufacturers.

The SCMP reported that losses weren’t restricted to companies from mainland China – component manufacturers in Hong Kong and Taiwan were also lower.

Taiwan company Pegatron Corporation, which assembles the iPhone, a short time ago was down more than 3%.

Rival manufacturer Foxconn, which is also listed in Taiwan and made news in July when it announced plans to build a $US10 billion factory in the US, was down by 0.9%.

Hong Kong-listed Cowell E Holdings, which makes camera parts for both Apple and Samsung phones, a short time ago was almost 6% lower.

Following the launch of the latest model iPhone, the reaction on US markets was minimal — Apple shares edged 0.4% lower on a broadly positive day for US stocks.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.