According to the sources, Apple Inc has presumably halted the production of iPhone 13 of almost 10 million units due to worldwide chip unavailability.
By the end of this year, the company was supposed to produce approximately 90 million units of the new iPhone. The Bloomberg report suggests that the number of units would be lower as mega-corporations suppliers consisting of Texas Instruments and Broadcom are also striving to deliver components.
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After the hours of news went viral, Apple’s share also dropped by 1.2 percent. Texas Instruments and Broadcom also faced a significant decline of about one per cent. The chip unavailability has put electronic industries into a dilemma as leading automakers have decided to suspend production for the time being. Apple has also halted the iPhone 13 production for now.
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iPhone 13 Production Halt : The Target Unachieved
In July 2021, Apple forecasted the slowing revenue growth, and Texas Instruments also mentioned the same in their revenue outlook that month. Apple predicted the supply crunch way back because of the bulky purchasing power and long-term supply agreements with chip merchants. Also, it anticipated that iPhone 13 would have a strong sales year as consumers looked to upgrade devices for 5G networks.
Jeff Fieldhack, research director for Counterpoint Research, stated that iPhone 13 sales appear to be healthy. The sale would be higher than last year’s iPhone 12 prices at Rs. 70,900. Fieldhack also predicted the sales between an estimate of 85 million to 90 million for the fourth quarter.
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Apple Inc. should prepare itself for the initial customer rush for iPhone 13 due to the launch of 5G networks.
