Apple has told suppliers to pull back from efforts to increase assembly of the iPhone 14 product family by as many as 6 million units in the second half of this year, said the people, asking not to be named as the plans are not public. Instead, the company will aim to produce 90 million handsets for the period, roughly the same level as the previous year andDemand for higher-priced iPhone 14 Pro models is stronger than for the entry-level versions, according to sources.
US stock-index futures turned lower after the news, with contracts on the Nasdaq 100 falling as much as 1.3%. Key chipmaker Taiwan Semiconductor Manufacturing fell as much as 1.8%, Apple’s biggest iPhone assembler Hon Hai Precision Industry was down as much as 2.4% and specialised producers Largan Precision and LG Innotek both slumped by more than 7%.
Apple had upgraded its sales projections in the weeks leading up to the iPhone 14 release and some of its suppliers had started making preparations for a 7% boost in orders.China, the world’s biggest smartphone market, is in an economic slump that’s hit its domestic mobile device makers and also affected the iPhone’s sales.
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