iPhone 13 series demand dies down ahead of holiday season: report

According to a report by Bloomberg, Apple is now facing slowing demand for the iPhone 13 series ahead of the holiday season. The company has reportedly told suppliers that demand has weakened.

The iPhone 13 series has suffered from the ongoing global chip shortage, much like the rest of the tech industry. Apple had earlier cut down its production targets for the iPhone 13 series by as much as 10 million units due to a lack of parts.

Bloomberg says that the slowing demand may be triggered by consumers giving up on trying to find iPhone 13 series units for sales, which are sold out or back ordered across most store fronts.

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Apple had hoped to make up for the lower iPhone 13 series production by manufacturing more units next year, when component supply is expected to improve. However, the company has now reportedly told vendors that this expected demand may not materialise.

The downtrend in both supply and demand has hit vendors across Apple’s supply chain. Taiwan Semiconductor Manufacturing Co. (TSMC), which makes Apple’s chipsets, has incurred a 12% fall in revenue for October. Apple’s main assembly partner, Hon Hai Precision Industry Co., also predicted that its business will shrink YoY this quarter.