Apple Inc is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialise, Bloomberg News reported, citing people familiar with the matter.
The company told suppliers to curtail efforts to increase assembly of its flagship iPhone 14 product family by as many as 6 million units in the second half of this year, Bloomberg reported.
Instead, the Cupertino, California-headquartered company will aim to produce 90 million handsets for the period, nearly the same number as a year ago and in line with Apple's original forecast this summer, the report said.
Apple did not immediately respond to a Reuters request for comment.
Demand for the higher-priced iPhone 14 Pro models is stronger than for the entry-level versions and at least one Apple supplier is shifting production capacity from lower-priced iPhones to premium models, Bloomberg reported.
Apple had this week said it would start manufacturing the iPhone 14, launched earlier this month, in India, as the tech giant moves some of its production away from China.
A federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday, a day after a US trade court ruled that he had exceeded his authority in imposing the duties and ordered an immediate block on them.
Dubai’s real estate market is embracing tokenisation, with over 6,000 people joining the waitlist for Prypco Mint, a new platform that lets users buy fractional shares of property through secure digital tokens.
The Abu Dhabi Department of Energy (DoE) has announced its comprehensive strategic framework for the energy and water sector up to 2050, at the World Utilities Congress, hosted at ADNEC in the capital.
The Central Bank of the UAE (CBUAE), on Thursday, fined an unnamed exchange house AED100 million due to what it called significant failures in the company's regulatory framework.
From pastry shops and perfumeries to restaurants and tailoring stores, 15 businesses in Abu Dhabi have been honoured with the Urban Treasure awards for shaping the capital's cultural and commercial landscape.
The UAE has achieved a new diplomatic milestone by winning the presidency of the General Assembly of the United Nations Human Settlements Programme (UN-Habitat) for the first time and securing membership in its Executive Board.
The UAE Pavilion at Expo 2025 Osaka–Kansai welcomed its one-millionth visitor, marking a significant achievement in the pavilion’s journey since the Expo officially opened on April 13.