13.3 C
New York
Wednesday, December 7, 2022

Apple is cutting back production of iPhone 14 Plus due to weak demand – TrendForce

Apple is cutting back production of iPhone 14 Plus due to weak demand - TrendForce
© Reuters. FILE PHOTO: The Apple logo is seen at an Apple Store in Brooklyn, New York, U.S. October 23, 2020. REUTERS/Brendan McDermid

 

AAPL
+1.48%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

(Reuters) – Apple Inc (NASDAQ:AAPL) is cutting back production of iPhone 14 Plus and is increasing the output of the more expensive iPhone 14 Pro due to lukewarm demand, market research firm TrendForce said Tuesday.

The share of more expensive iPhone 14 Pro series has increased to 60% of the total output from the initially planned 50%, and it could rise to 65% in the future, the report said.

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

The report also said that rising U.S. interest rates could crimp consumer spending, undermining the demand for iPhones in the first quarter of 2023. This could lead to a 14% year-on-year drop in production to 52 million units.

Analysts have in the past said iPhone 14’s Pro and Pro Max versions were selling at a brisk pace, although demand for the base model, typically Apple’s best seller, has been underwhelming.

Last month, the company said it would manufacture its latest iPhone 14 in India, as the tech giant moves some of its production away from China to hedge risks arising from the growing tensions between Washington and Beijing.

TrendForce estimates the share of Apple’s output from India to exceed 5% in 2023 and increase over the years.

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,280FansLike
12,893FollowersFollow
743FollowersFollow
- Advertisement -

Latest Articles

Popular Articles