Apple cuts production of iPhone 14 Plus – the Information
New iPhone released, Apple CEO Tim Cook greets buyers in New York City
FOX Business’ Susan Li talks to Apple fans waiting to purchase the iPhone 14 in New York City and reports on how supply chain issues have affected release dates.
Apple Inc is cutting production of iPhone 14 Plus within weeks of starting shipments as it re-evaluates demand for the mid-range model, the Information reported on Tuesday, citing two people involved in the company's supply chain.
The Cupertino, California-based company told at least one manufacturer in China to immediately halt production of iPhone 14 Plus components, according to the report.
The move comes at a time when the global smartphone market has been softening, shrinking 9% in the third quarter compared with the same period a year earlier, according to estimates from data research firm Canalys, which expects weak demand over the next six to nine months.
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