Apple likely to slash iPhone 13 production due to chip crunch – Bloomberg News

imageStock Markets53 minutes ago (Oct 12, 2021 04:41PM ET)

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(C) Reuters. FILE PHOTO: IPhone 12 phones are seen at the new Apple Store on Broadway in downtown Los Angeles, California, U.S., June 24, 2021. REUTERS/Lucy Nicholson/File Photo

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(Reuters) -Apple Inc is expected to cut down production of the iPhone 13 serie by as many as 10 million units due to the global chip shortage, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Shares of Apple (NASDAQ:AAPL), which had projected to produce 90 million units of the new iPhone models by the end of this year, fell 1% to $140.08 in after-hours trading.

The company told its manufacturers that the number of units would be lower because the tech giant’s chip suppliers including Broadcom (NASDAQ:AVGO) Inc and Texas Instruments (NASDAQ:TXN) are struggling to deliver components, the Bloomberg report said. (https://

Apple, Broadcom and Texas Instruments did not immediately respond to Reuters’ requests for comment.

The global chip shortage, including shortage of components and raw materials like substrates, has surmounted immense pressure on industries from automobiles to electronics, leading many automakers to even temporarily suspend production.

Apple likely to slash iPhone 13 production due to chip crunch – Bloomberg News

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