Apple has reportedly asked its suppliers to manufacture around 85 million units of the iPhone 15 this year. This quantity is similar to what was produced in the previous year, despite the ongoing global economic challenges and an expected decline in the overall smartphone market. Bloomberg reports that Apple is determined to maintain stable shipments of the iPhone 15 and is even considering raising the prices of the Pro models to potentially increase overall revenue.
As a company, Apple's decisions have far-reaching effects on the global economy, impacting numerous suppliers and providing job opportunities for millions in countries like the US, China, Vietnam, and India. With its shares surging nearly 50% this year, Apple's market capitalisation has now reached $3 trillion.
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According to the report, the Cupertino-based tech giant and its competitors are facing a drop in demand for electronics, including smartphones and computers, as corporations and consumers delay purchases amid rising prices and economic uncertainty. The US Federal Reserve is expected to implement another interest rate increase as a measure to combat inflation, while China's economy experienced a slowdown in the second quarter.
The company's production schedule attracts close attention from major corporations like Samsung Electronics, Taiwan Semiconductor Manufacturing Co., and Foxconn Technology Group, as they rely on the iPhone business to boost their growth and profitability. Apple stopped revealing specific shipment numbers in 2018, redirecting investor attention towards more predictable ventures like its App Store.
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Although Apple faced production obstacles related to CMOS image sensors, resulting in a reduction of projected units for its entry-level smartphones by about 2 million, the company managed to offset this decline by placing additional orders for higher-priced Pro models.
A minor issue with the new iPhone screens was reported, but it is expected to be resolved within a week or two, and it is not anticipated to significantly affect overall production.
