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Apple to keep iPhone production flat in 2022 - Bloomberg News

Stock Markets May 26, 2022 04:05AM ET
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© Reuters. A customers holds the new green colour Apple iPhone 13 pro shortly after it went on sale inside the Apple Store on 5th Avenue in Manhattan in New York City, New York, U.S., March 18, 2022. REUTERS/Mike Segar

(Reuters) - Apple Inc (NASDAQ:AAPL) plans to keep iPhone production for 2022 roughly flat at about 220 million units, Bloomberg News on Thursday, as China's COVID-19 curbs, global supply chain issues, and cooling demand continue to hurt smartphone makers.

An outbreak of COVID-19 in China has kept its financial hub Shanghai largely paralysed by a city-wide lockdown — now in its seventh week. Beijing, meanwhile, has ramped up its quarantine efforts.

The iPhone maker's supplier Foxconn has been able to keep its workers on-site in a "closed loop" system to limit the impact on production, but lockdowns in the country have pushed many to sound demand-related warnings.

Apple had also said last month any new lockdowns in China and Taiwan, where many parts and iPhones are produced, could bring new obstacles in terms of supply and demand in the current quarter.

The developments also comes as investors brace for a drop in consumer spending on tech gadgets and services as the war in Ukraine drives up the cost of oil, food, and other staples.

Separately, Nikkei reported on Wednesday that the company had told its suppliers to speed up iPhone development after China's COVID-19 lockdowns hampered schedule for at least one of the new phones.

Apple did not immediately respond to a Reuters request for comment.

Apple to keep iPhone production flat in 2022 - Bloomberg News
 

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Comments (5)
ميرال الاحمد
ميرال الاحمد May 26, 2022 11:50AM ET
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bana biraz bara ata bilir misiniz
Sergio Gonçalves
Sergio Gonçalves May 26, 2022 11:16AM ET
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Wait for the Tesla smartphone and you will see what will happen to Apple.
Md Wahid
Md Wahid May 26, 2022 10:13AM ET
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md wahid
Edward Chong
Edward Chong May 26, 2022 5:26AM ET
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i guess the reality is cooling demand. the rest are excuses.
Okike Chinonso
Okike Chinonso May 26, 2022 5:26AM ET
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good morning sir please I need your help
Juan Bluer
Juan Bluer May 26, 2022 5:07AM ET
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bullish +25% today
 
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