Apple is cutting back production of iPhone 14 Plus due to weak demand – TrendForce - KFGO

(Reuters) – Apple Inc is cutting backmost accumulation of iPhone 14 Plus and is expanding the output of the much costly iPhone 14 Pro owed to lukewarm demand, marketplace probe steadfast TrendForce said Tuesday.

The stock of much costly iPhone 14 Pro bid has accrued to 60% of the full output from the initially planned 50%, and it could emergence to 65% successful the future, the study said.

Apple did not instantly respond to a Reuters’ petition for comment.

The study besides said that rising U.S. involvement rates could crimp user spending, undermining the request for iPhones successful the archetypal 4th of 2023. This could pb to a 14% year-on-year driblet successful accumulation to 52 cardinal units.

Analysts person successful the past said iPhone 14’s Pro and Pro Max versions were selling astatine a brisk pace, though request for the basal model, typically Apple’s champion seller, has been underwhelming.

Last month, the institution said it would manufacture its latest iPhone 14 successful India, arsenic the tech elephantine moves immoderate of its accumulation distant from China to hedge risks arising from the increasing tensions betwixt Washington and Beijing.

TrendForce estimates the stock of Apple’s output from India to transcend 5% successful 2023 and summation implicit the years.

(Reporting by Shivani Tanna successful Bengaluru; Editing by Dhanya Ann Thoppil)