Apple is ramping up production of its iPhone 11 line of smartphones as demand for the devices is higher than expected. Apple is expected to increase the production of the iPhone 11 range by as much as 10%. That mark would add an additional 7 to 8 million units on top of what Apple expected to produce.
Of course, the market reacted with shares of Apple going up by 2% since it is considered good news when you exceed your projected sales. I for one can attest to the demand of the iPhone 11. We’ve bee trying to get a hold of our own unit through Verizon but the wait time is one to two weeks. Our unit is projected to arrive at the end of next week.
Speaking with Verizon, they say their hands are tied and Apple supplies them in trickles which causes the wait times as Verizon has no stock in its warehouses to satisfy its customer demand. Even the local Apple Store has only a handful in stock, most of those being the 64GB variant, which is the least popular. According to Verizon and Apple Store employees, the Midnight Green 256GB version seems to be the most popular Pro Max variant.
It is not unusual for Apple to gradually ramp up orders as it gauges demand after launch and builds up to the holiday shopping season. The U.S. company has stuck with a previous projection for sales of up to 75 million new iPhones in the second half, people familiar with the matter said, asking not to be identified discussing internal estimates.
But Chief Executive Officer Tim Cook has telegraphed strong initial sales of his company’s most profitable product, spurring expectations that demand for the iPhone 11 will hold up despite global smartphone malaise. The CEO told French daily Les Echos on Friday he foresaw a new growth cycle in the market.
Yahoo Finance
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Last Updated on February 3, 2021.
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