The slow start of the Apple iPhone 14
The Apple group has decided not to increase production of the iPhone 14 because of the low demand for this model, which went on sale two weeks ago. Bloomberg reported this on Wednesday, 28 September.
According to Apple, the company has notified its component suppliers that it will not increase production of the iPhone 14 by six million units in the second half of this year. Apple expects to produce 90 million units by the end of the year, which is “roughly in line” with the previous year’s production.
According to Bloomberg, in the Chinese smartphone market, which is the world’s largest, purchases of the iPhone 14 in the first three days after its release were 11% lower than those of the iPhone 13 last year. The agency added that the global smartphone market is expected to decline 6.5% this year to 1.27 billion units.
On Monday, September 26, the Indian daily Hindustan Times reported that Apple had started production of the iPhone 14 in India. The company has long produced most of its smartphones in China but has sought alternatives due to complications between the U.S. and Chinese governments. In the U.S., the iPhone 14 and iPhone 14 Plus sell for $799 and $899, respectively.
Founded in 1976, Apple makes smartphones, tablets (iPads), computers (iMacs), laptops (MacBooks) and other high-tech products. Its market capitalization on Nasdaq is currently $2,420 billion.