NewYork 18, October 2022: Apple is cutting production of the iPhone 14 Plus less than two weeks after its debut, according to two people involved in the company’s supply chain.
Apple has told at least one manufacturer in China to immediately halt production of iPhone 14 Plus components while its procurement team reevaluates demand for the product, which Apple has positioned as a cheaper alternative to its more expensive iPhone Pro models but equipped with a large screen, according to one of the people.
Apple (NASDAQ:AAPL) shares erased earlier gains and turned slightly negative on Wednesday after The Information reported that the tech giant had cut production of its iPhone 14 Plus model less than two weeks after it debuted.
The mews outlet, citing two people in Apple’s (AAPL) supply chain, reported that Apple (AAPL) was reevaluating demand for the product and told a Chinese manufacturer to “immediately halt production” of iPhone 14 plus components.
Two Apple (AAPL) suppliers cut their production on the iPhone 14 Plus by 70% and 90% respectively, the person added.
The iPhone 14 Plus, which debuted on October 7, is priced at $899, only $100 less than the technologically superior iPhone 14 Pro. The iPhone 14 Pro and iPhone 14 Pro Max are still seeing strong demand, as evidenced by wait times on Apple’s (AAPL) global websites.
Apple did not immediately respond to a request for comment from Seeking Alpha.
Several analysts have recently noted the continued strength of the iPhone 14 Plus, which was unveiled in early September.
Apple (AAPL) shares fell fractionally to $142.23 in late Wednesday trading after having been up as much as 1.5%.
On Tuesday, Apple (AAPL) unveiled several new products, including a cheaper version of its Apple TV set-top box and a more powerful iPad Pro tablet.
