A new Bloomberg report reveals Apple has dropped plans to increase production of its new iPhones, as demand failed to materialize.
The company has requested that suppliers cease all efforts to increase assembly of the new iPhone 14 product family. The company had planned to increase production by as much as 6 million units in the second half of the year should demand have materialized, however those plans are now cancelled, due to flagging consumer interest.
The Cupertino-based company instead settled on a production target of 90 million units for the second half, which is roughly the same as the pervious year’s production numbers, and in line with the company’s last forecast this summer.
Demand for the higher-priced iPhone 14 Pro models is increased, compared to the entry-level models, and this has caused at least one supplier to shift production efforts from the lower-priced model to the premium model, according to the report.
Apple had previously announced that it had begun manufacturing of the iPhone 14 in India, as part of the company’s shift away from China after suffering supply chain issues produced by constant lockdowns initiated under China’s stringent “zero-Covid” rules.
The Daily Financial Trends
