CNBC Television published this video item, entitled “Apple asks to increase iPhone production by 20% ahead of new release” – below is their description.
Apple is asking suppliers to ramp up production on its next generation of iPhones by 20 percent. The company wants 90 million units available as soon as possible. This is great news for investors in iPhone manufacturers, Josh Lipton tells TechCheck. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Apple is asking suppliers to ramp up production of its next-generation iPhones by 20%, according to Bloomberg. The stark increase from its 2020 production numbers comes despite last year being what the phone maker considered to be a “super cycle,” driven by new 5G models that offered consumers access to the improved, faster wireless networks offered by carriers.
Apple shares were up more than 2% on Wednesday.
Apple has maintained a production level of about 75 million devices from the product’s launch to the end of the year, Bloomberg reported, citing people familiar with the matter. Now, the company reportedly is seeking as many as 90 million of its new iPhones. According to the report, the actual number produced could be a few million units shy of the target.
An Apple spokesperson wasn’t immediately available to comment on the report.
Meanwhile, Credit Suisse analysts said in a note Wednesday that 5G will continue to drive upgrades as carriers expand their footprint of the new faster networks around the world. They added that there are more reasons for regular consumers, as opposed to just early adopters, to buy an iPhone with 5G.
Credit Suisse expects iPhone sales of 234 million units this year, 237 million units in 2022 and 249 million units in 2023. Apple stopped reporting iPhone unit sales, but reported $47.94 billion in iPhone revenue in its fiscal Q2 earnings, up 65.5% year over year.
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