Apple Said to Drop Plans to Increase iPhone 14 Series Production Amid Faltering Demand

APPLE

Apple is dropping plans to increase production of its new iPhone handsets this year after an anticipated surge in demand failed to materialise, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The company told suppliers to curtail efforts to increase assembly of its flagship iPhone 14 product family by as many as 6 million units in the second half of this year, Bloomberg reported.

Instead, the Cupertino, California-headquartered company will aim to produce 90 million handsets for the period, nearly the same number as a year ago and in line with Apple’s original forecast this summer, the report said.

Apple did not immediately respond to a Reuters request for comment.

Demand for the higher-priced iPhone 14 Pro models is stronger than for the entry-level versions and at least one Apple supplier is shifting production capacity from lower-priced iPhone handsets to premium models, Bloomberg reported.

Apple had this week said it would start manufacturing the iPhone 14, launched earlier this month, in India, as the tech giant moves some of its production away from China.

The company launched the flagship iPhone 14 at an event earlier this month, where it focused on safety upgrades rather than flashy new technical specifications, with the exception of a new adventure-focused watch.

“The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We’re excited to be manufacturing iPhone 14 in India,” Apple said in a statement.

Analysts at JPMorgan expect Apple to move about 5 percent of iPhone 14 production from late 2022 to India, which is the world’s second-biggest smartphone market after China.

© Thomson Reuters 2022


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