The situation in China causes headaches that are not trivial, even in the tech world. According to a report, Apple is among the companies that find themselves in a not so rosy situation. AAPL lost a trillion dollars in 2022.
As reported by 9to5Mac, shares of Tim Cook’s company hit a 52-week low and fell below the aforementioned value. Apple had already warned customers and investors. It’s about how much the situation in China in November 2022 limits capacity in terms of production, especially regarding the iPhone 14 Pro.
On December 28, 2022, TrendForce took care to publish a report attempting to assess the situation. According to data from this source, the total shipment of all iPhone 14 models in 2022 will be 78.1 million units. Then one is expected 22% year-on-year decline in the first quarter of 2023 for iPhone shipments. In fact, up to 47 million units are expected to be shipped during this period.
The problem behind all this is labor shortage in china, considering the situation with COVID-19 and partner Foxconn. The picture began to emerge in December 2022, and these problems “could get worse”, according to sources. In this context, Apple’s will will be to diversify production starting with the iPhone 15 series (avoiding Foxconn’s sole supplier position in Pro models).
Source: Every Eye