Sept 27 (Reuters) – Apple Inc is halting plans to ramp up production of new iPhones this year after expected demand growth failed to materialize, Bloomberg News informed Tuesday, according to people familiar with the matter.

Bloomberg reports that the company has ordered suppliers to reduce efforts to increase assembly of the flagship iPhone 14 product family by 6 million units in the second half of this year.

Instead, the Cupertino, Calif.-headquartered company will aim to produce 90 million phones for the period.

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The iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max are displayed at the Apple Fifth Avenue store on September 16, 2022 in Manhattan, New York, United States. REUTERS/Andrew Kelly

Apple did not immediately respond to Reuters’ request for comment.

Bloomberg reports that demand for the higher-priced iPhone 14 Pro models is stronger than the entry-level versions, and at least one Apple supplier is shifting production capacity from lower-priced iPhones to premium models.

Apple said this week that it will begin production of the iPhone 14, which was launched earlier this month, in India as the tech giant moves some of its production away from China. read more

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Reporting by Jahnavi Nidumolu and Juby Babu in Bengaluru; Edited by Rashmi Aich and Savio D’Souza

Our standards: Thomson Reuters Trust Principles.

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