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Edited By: Shaurya Sharma
Last Updated: December 03, 2022, 11:27 IST
iPhone shipments for the fourth quarter of 2022 were cut by 20%
With the lackluster supply, customers expecting to buy an iPhone 14 Pro model in line for the Holiday season might be disappointed.
Apple’s latest and greatest iPhone 14 Pro models are in great demand all over the world, but the demand-to-supply ratio hasn’t been the best this time round, with Apple reportedly missing the holiday quarter shipment target by an estimated 15-20 million units. As part of this ordeal, the popular analyst Ming-Chi Kuo has predicted that iPhone 14 Pro demand is expected to ‘disappear.’
As per a Medium post by Kuo, iPhone shipments for the fourth quarter of 2022 were cut by 20%, and Apple will be able to ship around 70–75 million units vs the the market consensus of 80–85 million units.
Apple’s supply chain has been largely affected due to the ongoing Zhengzhou iPhone plant labor protests, and COVID-19 restrictions in China.
Kuo has predicted that “most of the demand for the 4Q22 iPhone 14 Pro series amid the economic recession will disappear due to the significant supply and demand gap rather than deferred.”
He added, “Due to the high price of the iPhone 14 Pro series, Apple’s iPhone revenue in 4Q22 may be significantly lower than the market consensus by 20–30% or more.”
The ‘average capacity utilization rate’ of Zhengzhou iPhone plant could only reach 20% in November, but it’s expected to get better in December to around 30–40%.
With the lackluster supply, customers expecting to buy an iPhone 14 Pro model in line for the Holiday season might be disappointed. A report by 9to5Mac claims that some iPhone models are ‘already back-ordered into January of 2023.’
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