Apple Inc will scale back production of the iPhone 14Plus within weeks of the start of shipments as it re-evaluates demand for the mid-range model, two people involved in the company’s supply chain said on Tuesday.
The Cupertino, California-based company has ordered at least one Chinese manufacturer to immediately halt production of components for the iPhone 14Plus, according to a report.
The change comes at a time when the global smartphone market has weakened, shrinking 9% in the third quarter of a year ago.
According to data research firm Canalys, demand will remain weak for the next six years.
Apple did not immediately respond to Reuters’ request for comment.
The iPhone 14 Plus, which is part of the new collection announced in September, is positioned as a cheaper alternative to its more expensive iPhone Pro models and started shipping to customers on October 7.
A week before the debut of the new iPhone 14 Plus on October 7, Apple shares fell to a two-month low after Bloomberg reported that the company had abandoned plans to accelerate iPhone 14 production because of new iPhone models last month because an expected increase in demand did not materialize.