Suppliers have been told to increase production of the latest iPhone due to strong demand, the Nikkei Asian Review said.
Apple Inc. has told suppliers to increase production of the latest iPhone 11 product line by as much as 10% to meet stronger-than-expected demand for the new handsets, the Nikkei Asian Review reported.
The boost would add 7 million to 8 million units to the Cupertino, Calif.-based company’s smartphone production, the publication reported. The increase may validate Chief Executive Officer Tim Cook’s strategy of offering budget-conscious consumers less expensive models amid signs of a weakening economy, it said.
Major improvements to the iPhone’s camera, including the addition of a new ultrawide camera for better architectural and tourist photos, alongside better battery life and improved durability may have resonated with consumers. The entry point for new iPhones was also lowered for the first time, with the iPhone 11 starting at $699 or $50 less than its predecessor.
With the increase in production, Apple is anticipating selling more iPhones in the closing months of this year than it did during the same period last year, the Nikkei Asian Review reported. Shares in suppliers Murata Manufacturing Co. and Alps Alpine Co. climbed after the report.
SOURCE: Bloomberg