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Apple affected by limited supply, iPhone 13 output down 20% in recent months: report

According to a new report, iPhone 13 production has fallen 20% from its target in September and October.

Tokyo-based business publication Nikkei reported late Tuesday that assembly of iPhones and iPads had stopped entirely at some Chinese factories during the Golden Week holiday in early October. – a time when they usually speed up for the holidays.

Nikkei Asia quoted a supply chain manager involved in the process: “Due to limited parts and chips, it doesn’t make sense to work overtime on holidays and pay extra for frontline workers. . “This has never happened before.”

Nikkei said COVID-19-related disruptions to component factories in Vietnam and Malaysia contributed to the problem.

Citing interviews with more than 20 industry executives, Nikkei said Apple is missing millions of units of its latest iPhone and iPad devices, which were launched in September, and are missing out on billions of dollars in sales. potential revenue.

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Nikkei reports that it will be down by about 15 million units from its target of 230 million iPhone production by 2021. While production of newer devices improved in November, production of older iPhones and iPads fell significantly. due to limited components being reallocated to new devices, the report said.

In October, Bloomberg News reported Apple will cut production target after predicting that it would fall short of its goal of producing 90 million iPhone 13 devices in the last three months of the year. Nikkei reports that the number will be between 83 million and 85 million units.

Nikkei said Apple declined to comment on the report.

Apple reported Rare quarterly revenue missed in October, blamed on supply constraints. Bloomberg News last week reported Apple has warned suppliers that demand has slowedand told suppliers that orders may not be delivered on time, with production problems extending into 2022. However, Analysts have predicted a strong holiday quarter iPhone sales despite difficulties.

To date, Apple stock is up 29% and 38% over the past 12 months, compared with 17% and 18% gains, respectively, for the Dow Jones Industrial Average.
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https://www.marketwatch.com/story/apple-hit-by-supply-crunch-saw-iphone-13-production-drop-20-in-recent-months-report-11638930912?rss=1&siteid=rss Apple affected by limited supply, iPhone 13 output down 20% in recent months: report

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