Comments
Apple Inc is expected to cut down production of the iPhone 13 series by as many as 10 million units due to the global chip shortage, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Shares of Apple, which had projected to produce 90 million units of the new iPhone models by the end of this year, fell 1 per cent to $140.08 in after-hours trading.
Also read: Apple asks judge to pause Epic Games antitrust orders as it appeals ruling
The company told its manufacturers that the number of units would be lower because the tech giant’s chip suppliers including Broadcom Inc and Texas Instruments are struggling to deliver components, the Bloomberg report said.
Apple, Broadcom and Texas Instruments did not immediately respond to Reuters’ requests for comment.
The global chip shortage, including shortage of components and raw materials like substrates, has surmounted immense pressure on industries from automobiles to electronics, leading many automakers to even temporarily suspend production.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.