I don't think Tim Cook & Co. are laughing very much over this. The info appears to be legit. The sources seem to be coming out of Japan, directly from Apple's LCD manufacturers -- Sharp, LG, and Japan Display:
The iPhone maker has almost halved its order of liquid-crystal display panels from key suppliers, according to the Japanese newspaper the Nikkei.
Apple has told three suppliers, Japan Display, Sharp and LG Display, that it requires fewer screens, after previously requesting as many as 65 million units for the January to March quarter. Japan Display’s plant in Nomi, a key iPhone supplier, is expected to reduce output temporarily by between 70% and 80%, compared with the October to December period.
This could be a temporary blip for Apple, but it could also be part of a continuing trend in the growing dominance of Android/Samsung.