Apple reduces iPhone production due to dwindling demand

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Apple will abandon plans to increase production of its new iPhones this year after an expected surge in demand did not materialise, according to Bloomberg, 

Apple has informed its suppliers that it will reduce the production of up to 6 million iPhone 14 variants in the second half of the year. This brings the total production figure to around 90 million, which is similar to last year and in line with the company’s earlier this year forecasts. Earlier this year, Apple’s Chief Financial Officer Luca Maestri warned that the conflict in Ukraine, which caused Apple to suspend sales in Russia, would have a greater impact on sales in the fiscal third quarter.

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Apple reduces iPhone production due to dwindling demand

Apple will abandon plans to increase production of its new iPhones this year after an expected surge in demand did not materialise, according to Bloomberg, 

Apple has informed its suppliers that it will reduce the production of up to 6 million iPhone 14 variants in the second half of the year. This brings the total production figure to around 90 million, which is similar to last year and in line with the company’s earlier this year forecasts. Earlier this year, Apple’s Chief Financial Officer Luca Maestri warned that the conflict in Ukraine, which caused Apple to suspend sales in Russia, would have a greater impact on sales in the fiscal third quarter.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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