As demand declines, Apple reduces its production of new iPhones by 3 million units.
Apple is expected to manufacture 87 million iPhone 14 devices this year, down from the original goal of 90 million, which is at least three million fewer than the company had originally anticipated.
Softer demand for the iPhone 14 and 14 Plus models, which have seen a sharp decline in sales since their release, is the main cause of the decline.
Previous plans by Apple to boost manufacture of new iPhones this year were canceled when an expected spike in demand did not materialize.
Even then, there is still a high demand for the iPhone 14 Pro and Pro Max, even though the Zhengzhou lockout would reduce production.
CATEGORIES Business