Apple's latest earnings report found the hardware giant exceeding expectations. Most of the rest of the market contracted as the company marked a 9% growth in iPhone sales. There is a lot to be said for the leverage that comes with being one of the biggest players.
Apple is not immune from global affairs. The company did not offer guidance in the early days of the Pandemic. The way things have been going in the world over the past two years is probably the right move. The latest Apple device is arriving to a kind of perfect storm of global issues.
According to conversations with sources, Apple is cutting production of the budget phone by 20%. The size of the figure comes as a surprise for a brand new device, and the first addition to the series since 2020. The drop is somewhere between 2 million and 3 million phones.
Apple halted sales in Russia at the beginning of the month, following the invasion of neighboring Ukraine.
A number of consumer hardware companies, including Apple, have taken similar actions. Both brands have ranked in the top five in the country.
The global chip shortage, along with broader inflation issues, have impacted purchasing decisions. The sales numbers for products like smartphones are often affected by financial concerns, which are sometimes categorized as non-essential purchases. It causes users to hang onto older devices a bit longer than they otherwise would.
Along with the impact on the SE, the publication notes that orders for AirPods have also been dramatically scaled. Seasonal demand fluctuations are said to be the reason for a reduction in iPhone 13 production.
Apple has been reached out to.
All Rights Reserved © 2024
