Apple cutting back on production of iPhone 14 Plus citing weak demand: Report

Apple Inc is cutting back production of iPhone 14 Plus and is increasing the output of the more expensive iPhone 14 Pro due to lukewarm demand, market research firm TrendForce said Tuesday.

The share of more expensive iPhone 14 Pro series has increased to 60 per cent of the total output from the initially planned 50 per cent, and it could rise to 65 per cent in the future, the report said.

Apple did not immediately respond to a Reuters’ request for comment. The report also said that rising US interest rates could crimp consumer spending, undermining the demand for iPhones in the first quarter of 2023. This could lead to a 14% year-on-year drop in production to 52 million units.