Apple has told its suppliers that the demand of the iPhone 13 has slowed down, signaling that some consumers have decided against trying to get the hard-to-find item.
Apple, suffering from a global supply crunch, is now confronting a different problem: slowing demand. The company has told its component suppliers that demand for the iPhone 13 lineup has weakened, people familiar with the matter said, signalling that some consumers have decided against trying to get the hard-to-find item. Already, Apple had cut its iPhone 13 production goal for this year by as many as 10 million units, down from a target of 90 million, because of a lack of parts, Bloomberg News reported. But the hope was to make up much of that shortfall next year — when supply is expected to improve. The company is now informing its vendors that those orders may not materialise, according to the people, who asked not to be identified because the discussions are private. The company is still on track for a record holiday season, with analysts projecting a sales increase of 6 percent to $117.9 billion (roughly Rs.8,84,055 crore) in the final three months of the calendar year. But it won’t be the blockbuster quarter that Apple — and Wall Street — had originally envisioned. Shortages and delivery delays have frustrated many consumers. And with inflation and the omicron variant bringing fresh concerns to pandemic-weary shoppers, they may forego some purchases.
