Due to low demand, Apple is cutting back production of iPhone 14 Plus

• Apple is cutting back production of the iPhone 14 Plus
• Demand for the standard model

Apple is cutting back production of the iPhone 14 Plus: According to market research company TrendForce, Apple Inc. is expanding manufacturing of the more costly iPhone 14 Pro while decreasing production of the iPhone 14 Plus due to lackluster demand.

In contrast to the initial plan, which called for a 50% share of the more expensive iPhone 14 Pro series, the actual production share is now 60%, with potential future growth to 65%, according to the article.

Additionally, according to the analysis, the first quarter of 2023 might see a decline in the demand for iPhones due to rising U.S. interest rates, which would hurt consumer spending. A 14% annual decline to 52 million units could result from this.

READ MORE: Apple Stops Production of iPhone 13 Due To Low Demand

Apple’s emphasis on premium models could help it fight the slowdown in smartphone sales. Apple’s Pro and Pro Max premium-tier smartphones, which have been successful sellers, helped the company drive margins higher during the height of the chip issue.

Demand for the standard model

Analysts have previously stated that the Pro and Pro Max models of the iPhone 14 are selling well, but that demand for the standard model, which is traditionally Apple’s best-seller, has lagged.

According to research firm Canalys, Apple was the only company in the top five to record an increase in shipment volume in the third quarter, increasing its market share of smartphones globally from 15% to 18%. According to Canalys, the share growth occurred despite a 9% decline in the global smartphone market.

As the Apple giant shifts some of its production away from China to mitigate the risks associated with the escalating tensions between Washington and Beijing, the company announced last month that it would build the newest iPhone 14, the iPhone 14, in India. According to TrendForce, India will contribute more than 5% of Apple’s output in 2023 and will continue to grow over time.

READ MORE: Apple tells iPhone users to update to iOS 14.4.2 immediately