Apple
- Apple is telling component suppliers that demand has slowed, according to a Bloomberg report.
- Apple had already cut its iPhone 13 production target for 2021 by as many as 10 million units.
- The production cut is due to the ongoing global chip shortage.
Apple has told its component suppliers that demand for the iPhone 13 is falling ahead of the holidays, Bloomberg reported, citing people familiar with the matter.
The tech giant had already cut its iPhone 13 production target for 2021 by as many as 10 million units due to the ongoing global chip shortage, per Bloomberg.
Apple had initially planned to make 90 million units of its newest smartphone in Q4 2021, but told partners it was cutting the target as supply-chain partners Broadcom and Texas Instruments may not be able to deliver enough components for that many devices, Bloomberg reported in October.
The plan was to ramp up production to make up for the shortfall in 2022, when component supply is expected to improve, Bloomberg reported. But Apple is now informing vendors that it may not be receiving those orders, Bloomberg added.
Apple was projecting a strong quarter ending December, but expected to be short of demand, CEO Tim Cook said in the company's earnings call in October. He told analysts then that supply chain issues had already cost Apple $6 billion in sales in the company's fiscal fourth-quarter ending September 25.
Apple did not immediately respond to Insider's request for comment.
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