Apple says semiconductor shortage may impact iPhone production: Report

Tech giant Apple said that the global chip shortage could affect iPhone production and the company also forecasted slowing revenue growth.

Apple executives said that the revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4 per cent growth rate in the just-ended third quarter, GizmoChina reported on Friday.

They also added that while the impact of the chip shortage was less severe than feared in the third quarter, it will get worse in the fourth, extending to iPhone production.

CEO Tim Cook said that chips affected by the shortages are made using older technology but those are still vital as supporting parts for making iPhones.