Apple Inc (AAPL.O) anticipates lower shipments of high-end iPhone 14 models than previously predicted. This might happen due to a significant reduction in production at a virus-infected plant in China, dampening its sales outlook for the year-end holiday season.
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Apple Warns Of Lower iPhone Shipments: Here’s What To Expect
Solid demand for the new iPhones helps the company remain a rare bright spot in the global technology sector. Which has been battered by spending cuts as inflation and interest rates have risen.
The facility is currently operating at significantly less capacity. The company said in a statement on Sunday without specifying how much production is affected. “The Apple iPhone 14 Pro and Apple iPhone 14 Pro Max are in high demand. We now anticipate fewer iPhone 14 Pro and iPhone 14 Pro Max shipments than previously anticipated, “It stated.
According to Reuters, due to tightening COVID-19 curbs in China, production of Apple’s iPhones could drop by up to 30 per cent at one of the world’s largest factories in November.
On Sunday, China revealed the newest COVID-19 infections in six months. A day after health experts said they would maintain strict coronavirus controls, likely disappointing recent investor hopes for a relaxation.
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Foxconn (2317. TW), the Zhengzhou factory’s operator, said on Monday that it was working to resume total production at the plant as soon as possible and revised its fourth-quarter outlook.
It said it would implement new COVID-19-control measures at the plant, including limiting working employees’ travel between their dormitory and the factory area.
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Varushi Yadav
I'm a 4th-year law student at the University of Petroleum and Energy Studies, along with that I'm a creative content writer. So far I have written law-related articles, I like to explore more and I'm always ready to learn more.