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TD Cowen says Apple has cut its iPhone orders as all smartphone manufacturers face lower demand in China for the first calendar quarter of 2024, but it’s ignoring Apple’s typical January adjustments.
Apple’s iPhone 15 Pro range
Apple’s iPhone 15 Pro range
TD Cowen most recently estimated that Apple lost over $30 billion because of issues to do with iPhone 14 production delays and ongoing power restrictions in China. Now it’s saying that supply chain sources indicate an overall drop in consumer demand for smartphones in the country.
“Our industry field work indicates Mar ’24 Q supply chain cuts for iPhone, Huawei, and Honor that could be related to softer near-term China demand,” says the report seen by AppleInsider. “China smartphone shipments were strong in Oct & Nov ’23 based on CAICT data, but anecdotally trends may have weakened starting in Dec.”
Originally appeared here:
Questionable new-year iPhone production cutback reports have already started
