Apple to keep iPhone production flat in 2022 – Bloomberg News
(Reuters) – Apple Inc plans to maintain iPhone manufacturing for 2022 roughly flat at about 220 million models, Bloomberg Information on Thursday, as China’s COVID-19 curbs, world provide chain points, and cooling demand proceed to harm smartphone makers.
An outbreak of COVID-19 in China has stored its monetary hub Shanghai largely paralysed by a city-wide lockdown — now in its seventh week. Beijing, in the meantime, has ramped up its quarantine efforts.
The iPhone maker’s provider Foxconn has been capable of maintain its employees on-site in a “closed loop” system to restrict the impression on manufacturing, however lockdowns within the nation have pushed many to sound demand-related warnings.
Apple had additionally stated final month any new lockdowns in China and Taiwan, the place many components and iPhones are produced, might deliver new obstacles when it comes to provide and demand within the present quarter.
The developments additionally comes as traders brace for a drop in client spending on tech devices and providers because the struggle in Ukraine drives up the price of oil, meals, and different staples.
Individually, Nikkei reported on Wednesday that the corporate had advised its suppliers to hurry up iPhone improvement after China’s COVID-19 lockdowns hampered schedule for no less than one of many new telephones.
Apple didn’t instantly reply to a Reuters request for remark.
(Reporting by Rhea Binoy in Bengaluru; modifying by Uttaresh.V)
