Tuesday, December 6, 2022
HomeBusinessApple tells suppliers demand for iPhone 13 lineup has weakened

Apple tells suppliers demand for iPhone 13 lineup has weakened

Date:

Related stories

The Best Way to Extract Data from Google Searches

Extracting data from Google has been in utilization for...

Growing Your Online Thrift Store With a POS System

You probably have a great online thrift store setup....

Tim Draper predicts bitcoin will reach $250,000 despite FTX collapse

Tim Draper, founder of Draper Associates, onstage at...

BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI By Cointelegraph

© Reuters Non-farm payrolls in the United States...


2/2
© Reuters. FILE PHOTO: Apple’s iPhone 13 models are pictured at an Apple Store on the day the new Apple iPhone 13 series goes on sale, in Beijing, China September 24, 2021. REUTERS/Carlos Garcia Rawlins

2/2

(Reuters) – Apple Inc (NASDAQ:) has told its parts suppliers that demand for the iPhone 13 lineup has slowed, Bloomberg News reported on Wednesday, citing people familiar with the matter, signaling that some consumers have decided against acquiring the hard-to-find item.

The company had cut production of iPhone 13 by as many as 10 million units, down from a target of 90 million, due to a global chip shortage, but now it has informed vendors that even those orders may not materialize, the report said.

Apple’s shares fell about 2% in premarket trading, while shares of iPhone component and semiconductor suppliers Qualcomm (NASDAQ:), Skyworks (NASDAQ:), Europe’s ASML and Infineon (OTC:) were also down.

The holiday season is Apple’s biggest quarter in terms of revenue and a test for consumers’ interest in the company’s latest iPhones and MacBooks.

Analysts had expected demand to remain steady shortly for new products, but they lowered shipping estimates as supply chain issues burdened phone makers, with many retail partners warning about product shortages ahead of the holiday shopping season.

Apple Chief Executive Officer Tim Cook warned in October that the impact of supply constraints, which cost the company $6 billion in sales in the fourth quarter and was affecting most of the company’s products, will be worse during the holiday quarter even as demand for the new lineup was robust.

Apple and its suppliers 3M Co, Broadcom (NASDAQ:) Inc and Advanced Micro Devices (NASDAQ:) Inc did not immediately respond to Reuters’ requests for comments.

The global chip crunch, initially due to high demand for smartphones and personal gadgets during the coronavirus pandemic, has affected the auto industry and disrupted production at companies ranging from Apple to GM.

reported last month that Apple had cut back production of iPad tablets to allocate more components to iPhone 13.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Bellie Brown
Bellie Brownhttps://businesstimes.org
Hi my lovely readers, I am Bellie brown editor and writer of Businesstimes.org. I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting Cleartips.net

Latest stories