19 October 2021
Apple seems to be the biggest new player in the tech market facing the heat of chip shortage. As per Bloomberg, iPhone 13 productions targets are going down as the company is struggling to procure enough components. The report is based on information shared by anonymous sources familiar with the development.
When iPhone 13 series was launched, Apple had set a goal of producing 90 million units during the last three months of the year. It is now looking to cut down the goal by as much as 10 million units. Broadcom and Texas Instruments, two major suppliers, are finding it hard to deliver components.
If you are familiar with the tech industry, you would know that the whole industry is facing with chip shortage. It is Apple's strong purchasing power that kept it safe so far and iPhones were safe. But the situation has certainly changed and Apple is now looking to keep manufacturing under control.
However, Apple is still on road to have one of its biggest quarters in terms of revenue. The last quarter is expected to reach $120 billion which is a growth of 7% year-on-year basis.
The report says,
"Current orders are slated to ship around mid-November, so Apple could still get the new iPhones to consumers in time for the crucial holiday season. The year-end quarter is expected to be Apple’s biggest sales blitz yet, generating about $120 billion in revenue. That would be up about 7% from a year earlier -- and more money than Apple made in an entire year a decade ago."