Informed sources said that the giant American electronics company “Apple” has retreated from its plans to increase the production of iPhone smartphones during the current year after expectations of an increase in demand failed.
And Bloomberg News Agency indicated that the company, based in Cupertino, California, USA, told its suppliers to back off efforts to increase production of iPhone 14 phones by 6 million units during the second half of this year.
The company aims to produce 90 million phones during the second half of the year, which is the same level of production during the same period last year and consistent with Apple’s original expectations this summer.
According to some sources, the demand for the iPhone 14 Pro, the most expensive in this family, was stronger than the other lower price categories in the iPhone 14 family, the latest generations of Apple phones.
In the best cases, Apple’s suppliers have shifted focus from producing the lowest price categories of iPhone 14 phones to the highest price category.
On the New York Stock Exchange, the share price of “Apple” declined in this morning’s trading by 3.9% to reach $146.90 per share, while the share fell by 18% during the current year, compared to the decline of the broader S&P 500 index of American stocks by 23% during the same period.
Bloomberg indicated that the global demand for personal electronic devices, in general, has declined due to high rates of inflation and fears of an economic recession.
The smartphone market is expected to shrink this year by 6.5% to 1.27 billion devices, according to IDC estimates for market studies.