Customers try new iPhones at the Apple Store where the iPhone 14 series will go on sale September 16, 2022 in Shanghai, China.
VCG | China Optical Group | Getty Images
shares apple It fell about 4% on Wednesday after a report that the company asked suppliers to bail out plans to ramp up iPhone 14 production. Demand for new models failed to rise as expected, according to Bloomberg.
According to the report, Apple will no longer aim to increase production by 6 million units in the second half of the year as planned. The company will strive to produce 90 million units instead, which is roughly in line with Apple’s forecast and production from last year, according to Bloomberg.
The report also affected Apple suppliers and manufacturers. Shares of the major Taiwanese semiconductor chip maker also fell about 3%. shares Hon hye, also known as Foxconn, is down about 2.9%. Foxconn builds iPhones from Apple.
Bloomberg reports that demand for the iPhone 14 Pro is higher than for other new phones, prompting at least one Apple supplier to shift production capacity from lower-end models to the premium version.
An Apple representative declined to comment.
Thomas Hardy is a contributor to OE Mag, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that matter to them. His work highlights relevant stories, emerging trends, and key issues, presenting them in a balanced, accessible, and reader-friendly way.