Apple Share Tumbles as iPhone 13 Production Reportedly Slashed. It comes as a global shortage of semiconductors impacts all industries that need computing power to run, from car manufacturers through to games consoles and mobile phones.
The iPhone 13 has a new diagonally-aligned dual-camera array. Pic: Apple
Why you can trust Sky News
The value of shares in Apple dropped on Tuesday following reports that the company has slashed production numbers of its new iPhone 13.
Apple is going to make 10 million fewer devices than it had initially planned, reported Bloomberg News, due to the ongoing global shortage of computer chips.
The expected impact on the company’s business caused Apple’s share price to go down by 1.2% in after-hours trading.
Customers queue to buy the new Apple iPhone 13 outside the tech giant’s flagship store in Regent Street, central London.
Apple has reportedly slashed production of the iPhone 13, which launched to long queues in London in September. Pic: PA
It comes as a global shortage of semiconductors impacts all industries that need computing power to run, from car manufacturers through to games consoles and mobile phones.
Earlier this year, Apple’s chief executive Tim Cook warned that the company had been using a buffer stock of semiconductors to meet demand.
Mr Cook said Apple anticipated sales of iPads and Macs would be $3bn to $4bn lower in its third quarter than would be the case without supply issues.
The company launched its new iPhone 13 range in September and is set to hold another special event next week, in which it is expected to announce new Macs and MacBooks.
MORE ON APPLE
Medics came up with the innovative idea when the pandemic hit
FaceTime calls between doctors and paramedics at 999 call-outs improves life-saving stroke care
Express Travel allows iPhone users to tap in at underground stations without unlocking their phones. Pic: Apple
Apple Pay users should not set Visa as transport payment card, security experts warn
22 September 2021, Lower Saxony, Oldenburg: An Apple Lightning charging plug (l) is seen next to a USB-C charging plug. EU Commission presents proposal for unified mobile phone charging jack. The issue of chargers has preoccupied the EU institutions for more than a decade. In 2009, under pressure from the EU Commission, 14 mobile phone manufacturers – including Apple – agreed on a uniform standard for power sockets in a voluntary commitment. When it comes to the jacks in smartphones and tablet c
Apple opposes European Union directive for all mobile phones to have universal charger
42 total views, 2 views today