Apple cuts production of iPhone 14 Plus - the Information
The slowdown follows the cut in production of the iPhone 14 model
New iPhone released, Apple CEO Tim Cook greets buyers in New York City
FOX Business' Susan Li talks to Apple fans waiting to purchase the iPhone 14 in New York City and reports on how supply chain issues have affected release dates.
Apple Inc is cutting production of iPhone 14 Plus within weeks of starting shipments as it re-evaluates demand for the mid-range model, the Information reported on Tuesday, citing two people involved in the company's supply chain.
The Cupertino, California-based company told at least one manufacturer in China to immediately halt production of iPhone 14 Plus components, according to the report.
The move comes at a time when the global smartphone market has been softening, shrinking 9% in the third quarter compared with the same period a year earlier, according to estimates from data research firm Canalys, which expects weak demand over the next six to nine months.
ELON MUSK SAYS SPACEX, APPLE HAVE HAD 'SOME PROMISING CONVERSATIONS' ABOUT STARLINK CONNECTIVITY
The new iPhone 14 Plus is exhibited at an Apple event at their headquarters in Cupertino, California, U.S. September 7, 2022. REUTERS/Carlos Barriaa | Reuters Photos
APPLE MOVES MANUFACTURING OF IPHONE 14 FROM CHINA TO INDIA
Apple did not immediately respond to a Reuters request for comment.
The iPhone 14 Plus, part of a new lineup announced on Sept. 7, is positioned as a cheaper alternative to its more expensive iPhone Pro models and started being shipped to customers on Oct. 7.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 228.52 | -0.48 | -0.21% |
CLICK HERE TO GET THE FOX BUSINESS APP
Last month, Apple dropped its plan to increase production of the new iPhone models as an anticipated surge in demand failed to materialize, according to a Bloomberg News report.