By Senad Karaahmetovic
The consumer response to the release of Apple’s (NASDAQ:AAPL) iPhone 14 Plus has been “lukewarm,” prompting the Cupertino-based tech giant to cut back production.
According to TrendForce, Apple has further increased the share of a more expensive iPhone 14 Pro series to 60% of the total output from earlier 50%. The percentage could eventually increase to 65%, the report added.
TrendForce analysts also stated that Apple could feel the impact of the raised interest rates in the first quarter of the next year, which could force the company to cut year-over-year production by 14% to 52 million units, which is in line with the Street consensus.
The report said that Apple’s iPhone 15 series could see greater differentiation in 2023. Analysts indicate that “Apple will maintain a four new model release schedule featuring two processors to further differentiate between standard and high-end models.”
Apple shares closed 1.5% higher yesterday to end the day at $149.45.