Apple expects to produce at least three million fewer iPhone 14 handsets than originally anticipated this year, sources said.
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A significant iPhone production cut at a virus-blighted plant in China has dampened Apple’s sales outlook for the year-end holiday season.
Apple’s Taiwanese contract manufacturer Pegatron has begun assembling the company’s latest iPhone 14 model in India.
China has ordered a seven-day lockdown of the area around Foxconn’s main plant in Zhengzhou.
Production of iPhones could slump by as much as 30% at one of the world’s biggest factories due to tightening Covid-19 curbs.
Apple was alone among the world’s top five smartphone vendors to register growth in the third quarter.
Disappointing earnings from the megacap companies that led markets higher for years are cratering their shares.
Apple will need to comply with a European Union law to switch the iPhone to a USB-C charger, marketing chief Greg Joswiak said.
Apple has pushed through huge price increases in South Africa, with the cost of its streaming video platform, Apple TV+, soaring by 47%.
Investors are facing a make or break week for some of Wall Street’s most influential technology stocks.