According to a report, Apple has lowered its iPhone 13 output forecast due to a chip shortage.
According to a study released Tuesday, Apple is unlikely to fulfill its manufacturing goals for the new iPhone before the holidays due to a global electrical chip shortage.
The company had planned to create 90 million iPhone 13s by the end of the year, but will have to settle for 80 million since suppliers Broadcom and Texas Instruments are unable to meet demand, according to Bloomberg News, citing anonymous sources familiar with the situation.
Last month, Apple unveiled four new iPhone models, including the iPhone 13 Mini, which starts at $700, and the iPhone 13 Pro Max, which costs $1,100.
Wedbush analyst Dan Ives stated, “We estimate that overall demand has been robust globally,” citing strong demand in China and the United States in particular.
“If customer demand continues at this rate, Apple will face a 5 million-plus iPhone 13 unit shortage for the holiday season,” he warned.
During quarterly earnings releases in late July, Apple CEO Tim Cook cautioned that supply chain restrictions will have an even greater impact in the current quarter than they had in the previous three months.
Electronic chip shortages, he said, were hurting the entire industry, not just Apple, and were caused by much higher-than-expected demand.