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Jeff Pu of Hong Kong-based investment firm Haitong International Securities reported that Apple is making some production cuts in its iPhone 15 line. From the former plan of having 83 million iPhone 15 units, the analyst said that the Cupertino giant now only aiming for 77 million units by the end of 2023.
The analyst shared the details in a note to investors (via 9To5Mac) and explained two main reasons behind the move. According to Pu, the first major catalyst for this is the supply issues Apple has been experiencing related to camera sensors from Sony, iPhone Pro models’ titanium frame, and displays with thinner bezels.
The analyst said that Apple also made some adjustments in its expectations in relation to “demand concerns.” This is an interesting move from Apple since it was reported months ago that the company had high expectations for the iPhone 15 demand. It is likely that the previous prediction reports from its partners and analysts and the current situation of the economy and consumer spending behavior probably changed Apple’s view on the matter.
Pu further detailed that the price hike in the iPhone 15 models could also affect the demand. “The build plan cut before launch isn’t a positive signal, and the potential price hike for iPhone 15 Pro Max could also dampen the end-demand,” the analyst noted.