Apple tells suppliers iPhone demand has slowed: report
Apple had cut its iPhone 13 production goal for this year by as many as 10M units
Apple reportedly has a problem as the holiday shopping season heats up.
The company has told its component suppliers that demand for the iPhone 13 lineup has weakened, people familiar with the matter told Bloomberg.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Apple had cut its iPhone 13 production goal for this year by as many as 10 million units.
That's down from the prior target of 90 million, because of a lack of parts, Bloomberg News reported.
Apple is now letting vendors know that a rebound in orders next year may not happen, according to people familiar.
It is still being projected as a record season for Apple.
APPLE WILL ALLOW CUSTOMERS TO SELF-REPAIR IPHONES, MACS
Analysts are projecting a sales increase of 6% to $117.9 billion in the final three months of the year.
But, Apple is still dealing with shortages, delivery delays, inflation and the COVID-19 omicron variant bringing fresh concerns to shoppers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 227.18 | -1.82 | -0.80% |
Apple declined to comment to Bloomberg.
Apple’s shares fell more than 1% in premarket trading.
CLICK HERE TO READ MORE ON FOX BUSINESS
The iPhone accounted for about half of Apple's $365.8 billion in revenue during the last fiscal year.