Apple plans a 30% boost in iPhone production
The decision reflects the strong demand for its 5G handsets
Stocks impacted: Apple (AAPL)
Apple plans to produce up to 96 million iPhones for the first half of 2021, around 30% higher than the prior year. This step reflects the strong demand for its 5G handsets during the pandemic. The plan includes the latest iPhone 12 range and the older iPhone 11 and iPhone SE. For the year 2021, Apple reportedly plans to build up to 230 million iPhones, representing a 20% rise from 2019. The tech giant is also working on a new Apple TV, a home entertainment device for video-on-demand services, for next year. As a reminder, on Sunday, the company temporarily halted iPhone production at Wistron after workers riot and pending probe. On Monday, Apple stocks finished 0.50% lower.
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