Apple may cut iPhone 13 production by millions

Apple is expected to cut iPhone 13 production by millions.

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Apple is expected to cut iPhone 13 production by millions.

Apple was expected to produce 90m units of the new iPhone models this year but has told its manufacturers that the number would be lower because chip suppliers including Broadcom and Texas Instruments were struggling to deliver components. 

The share of Apple will fell 1.2% causing a fall in the US stock market. In July, Apple forecast slowing revenue growth and said the chip shortage, which had started hitting its ability to sell Macs and iPads, would also crimp iPhone production. Texas Instruments also gave a soft revenue outlook that month, hinting at chip supply concerns for the rest of the year.

Along with technology companies, carmakers have been among the worst hit by the shortages – particularly of semiconductors – with an estimated 7.7m fewer vehicles being built this year. Many US factories have put production on hold this year due to a lack of parts.

Fears are also emerging that the UK might also face similar issues of shortage. AP Moller-Maersk, the world’s largest container shipping company, said the shortage of labor meant containers were not being picked up and returned quickly enough, leading to a large backlog.

The Biden administration has launched a major effort to tackle inflation-inducing supply problems. It formed a task force in June that meets weekly and named John Porcari, a veteran transportation official, as “bottleneck tsar” to push private-sector companies to ease logjams.