Apple Reduces iPhone Production Increase After Demand Declines

Although demand for higher-priced iPhone 14 Pro models is higher than for the entry-level versions, overall, according to Bloomberg, Apple is reducing increased production of new iPhones:

“Apple Inc. is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, according to people familiar with the matter.”

According to the people, instead of producing 6 million extra units in the second half of this year, the company will likely produce 90 million handsets for the period, basically the same amount as the prior year and is similar to Appleā€™s original forecast this summer:

“Demand for higher-priced iPhone 14 Pro models is stronger than for the entry-level versions, according to some of the people. In at least one case, an Apple supplier is shifting production capacity from lower-priced iPhones to premium models, they added.”

A spokesperson for Apple declined to comment.

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