Apple reportedly cut production of its iPhone 14 Plus to reassess demand less than two weeks after its debut in stores.
At least one manufacturer in China has been ordered to immediately halt production of iPhone 14 Plus components and two Apple suppliers in China who use the parts to assemble them into larger modules are also cutting production by 70% and 90% respectively, according to the American technology publication The Information.
Apple shares fell on Tuesday local time, losing about $4 a share when the news broke.
Apple did not comment on the report.
In the week leading up to the launch of the new iPhone 14 Plus on October 7, Apple shares fell to a two-month low after Bloomberg reported that the company had backed out of plans to ramp up production of the iPhone 14. The iPhone 14 hit stores on September 16.
The iPhone 14 Plus with a 6.7-inch screen starts at $1,579 in Australia and the standard iPhone 14 with a 6.1-inch screen starts at $1,399.
The Plus is a cheaper alternative to the Pro Max (also with a 6.7-inch screen), which starts at $1899.
On the same day, reports surfaced that Apple was cutting production of the iPhone 14 Plus, the company announced new versions of its iPad Pros, a new 10th generation iPad, and an updated Apple TV 4K.
During the past holiday season, the quarter ending December 25, 2021, Apple’s revenue from iPad sales was down 14% from the same period a year earlier.
In the most recent quarter, ending June 25, 2022, iPad revenues decreased by 2%.
The redesigned standard iPad is all-screen. The home button with fingerprint recognition has been moved to the top of the device and for the first time the front camera is on the landscape edge.
It will be in stores from October 27 and is available in four colors: blue, pink, yellow and silver.
The Wi-Fi model starts at $749, and the Wi-Fi and Cellular model starts at $999. The new 11-inch and 12.9-inch iPad Pro will be available in Silver and Space Gray from the same date.
The Wi-Fi model starts at $1399 for 11-inch and $1899 for 12.9-inch. The Wi-Fi and Cellular model starts at $1649 for 11-inch and $2149 for 12.9-inch.
The new Apple TV 4K with Siri Remote will be available starting November 4 and starting at $219.