Bloomberg reported Apple tasked iPhone makers with producing around 85 million units of its next iPhone, 5 million less than orders for new models placed in 2021 and 2022, with revenue gains expected to be driven by price rises on Pro editions.
The news outlet stated Apple lowered production targets after a global chip shortage and Covid-19 (coronavirus)-related factory closures in China stymied output over the past two years.
Earlier this month, Counterpoint Research stated smartphone sell-through had declined for eight straight quarters in Q2.
Apple’s numbers were down 2 per cent year-on-year but its market share increased 17 per cent, driven by premium models.
The research company noted devices priced at $600 and above had largely remained immune to broader market pressures, though rival Canalys cited strength in the lower-tiers and reported “early signals of recovery” from the market.