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Apple Shelves Plans To Boost IPhone 14 Production Targets On Lower Demand: Report
(RTTNews) - iPhone maker Apple, Inc. has shelved its plans to boost production of the recently launched iPhone 14 line up after seeing a lower than anticipated demand for the highly popular smartphones, according to a Bloomberg report.
he company had also asked suppliers and assemblers to be ready for the boost in production few weeks ago.
The company's original aim was reportedly to produce 90 million iPhone handsets in the second half of the year, roughly in line with the prior-year period. However, it had renewed its plans and was looking to boost production by another 6 million handsets in anticipation of a surge in demand for the newly launched handsets.
Apple had its next-gen flagship smartphones the iPhone 14 Pro and iPhone 14 Pro Max at its "Far Out" event in Cupertino, California in the first week of September.
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Apple Signs Over $30 Bln Worth Chip Deal With Broadcom To Boost U.S. Manufacturing
Tech major Apple Inc. announced a new multi-year, over $30 billion worth deal with chipmaker Broadcom Inc. to produce more than 15 billion U.S.-made chips, aiming to accelerate manufacturing in the U.S. In the pre-market hours on the Nasdaq, Apple is trading 0.15 percent lower at $310.20, while Broadcom is gaining 0.29 percent, trading at $371.84.
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Apple @ 50: Five Decades Of Reinvention
April 1 marks 50 years of Apple Inc., the tech major whose inventions and innovations in the world of technology have brought a radical change in the lives of people over these years. Apple, which was founded on April 1, 1976 in a small garage by visionary Steve Jobs and others, has now become a tech titan offering consumer electronics, software and online services.
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162 days ago
Apple Adds New Partners, To Invest $400 Mln To Expand US Manufacturing
Apple Inc. announced the addition of new partners to its American Manufacturing Program or AMP, aiming to expand advanced manufacturing and critical component production in America and strengthen the tech major's domestic supply chain. Bosch, Cirrus Logic, TDK, and Qnity Electronics will join AMP, a key part of Apple's $600 billion, four-year commitment to U.S. manufacturing and innovation.
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168 days ago
Apple To Expand Renewable Energy Projects Across Europe
Tech major Apple Inc. has unveiled a significant expansion of its renewable energy projects across Europe to boost energy capacity to match the electricity customers use to power its products. The new solar and wind projects, all enabled by Apple, will add 650 megawatts or MW of renewable energy capacity in various European countries, including Greece, Italy, Latvia, Poland, and Romania.
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332 days ago
Apple Shares Down On $900 Mln Tariff Hit, Despite Strong Q2, Dividend Growth, $100 Bln Buyback
Shares of apple inc. were down around 4 percent in the after-hours trading on Thursday after the tech major said it sees $900 million hit from tariffs in the third quarter, as it shifts U.S. iPhone supply to India from China. This was despite reporting higher profit in its second quarter, above market estimates, with strong growth in revenues. The company also announced higher dividend...
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497 days ago
Apple, Google Restore TikTok To App Stores
Apple's and Alphabet's Google have restored TikTok, the popular short video app, to their mobile app stores in the United States, after President Donald Trump delayed a ban on the Chinese app after his inauguration, and gave assurance to its tech partners of no fine or further consequences.
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574 days ago
Apple Stock Gains On Upbeat Q1, Positive Outlook, Despite Weak IPhone, China Sales
Apple Inc.'s shares gained more than 3 percent in the after-hours trading on Thursday after the tech major reported higher profit in its first quarter, above market estimates, with strong growth in net sales. This was despite weakness in iPhone and Wearables sales, as well as in China. The company also declared a cash dividend. Further, in its first-quarter earnings call, Apple said it expects...
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588 days ago
Indian Regulator Denies Apple's Request To Pause Antitrust Report
Apple Inc.'s request to put on hold an investigation report that found the tech major breaching competition laws has been denied by the Indian antitrust regulator, Reuters reported citing an internal order. The Competition Commission of India or CCI has turned down the request, following which the case on Apple's app store practices on its iOS operating system will continue.
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655 days ago
