Apple plans to crank out more iPhones despite sagging demand: report

2020-04-21 17:10:04 - General

Despite a predicted drop in demand, Apple is planning on upping iPhone production by 4 percent year-over-year through March 2021, according to a report.

Despite a predicted drop in demand, Apple is planning on upping iPhone production by 4 percent year-over-year through March 2021, according to a report.

The Cupertino, Calif.-based company plans to crank out 213 million iPhones over the next 12 months, according to Japanese service Nikkei. It will be a roughly even split between the newly-announced iPhone SE, which is now Apple’s cheapest model starting at $399, and the successor to the iPhone 11, which is likely to be far more expensive and feature 5G technology.

Apple is expected to introduce three to four new 5G iPhones, according to the report.

Whether Apple will be able to move all the phones it plans to produce, however, is a different story. An executive at a components maker told Nikkei that “Apple’s production outlook is pretty bullish,” adding he was not sure if it is “realistic.” The executive said that “actual production” could be 10 to 20 percent lower than forecasts.

The report comes just days after analysts at Goldman Sachs said they expect iPhone shipments to fall 36 percent during the third quarter as customers around the world remain in lockdown, and downgraded Apple’s stock to “sell.”

Apple’s retail stores outside of China remain closed indefinitely due to the virus, though the company said last week that it planned to reopen a store in Seoul, South Korea.

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