Bloomberg reported on Tuesday that Apple Inc (NASDAQ: AAPL) expects to sell 90 million next-generation iPhones in 2021, up 20% from a year sooner, as it anticipated increased demand following the Covid-19 vaccination introduction.
What happened was this: For a device’s initial run following launch and until the end of the year, the Cupertino, California-based tech corporation typically ships 75 million units.
This year’s launches will also be Apple’s second with 5G technology, which is a much-anticipated update.
According to a Bloomberg story quoting a source, Apple has asked suppliers to construct up to 90 million units, but the actual output could be a few million units short of the objective.
The increase in shipment orders is also tied to Huawei Technologies Co’s smartphone business, which has been sanctioned.
See also: Munster Estimates: Apple’s Revenue Growth Will Outpace Street Expectations Through 2025: What You Should Know and Why It’s Important: iPhone sales account for more than half of Apple’s overall revenue and are critical to the company’s expansion. According to those familiar with the situation, this year’s iPhone update range will be more modest than last year’s iPhone 12, and will focus on processor, camera, and display enhancements. The tech behemoth is planning improvements to all of its current models, which will be shown in September.
Hon Hai Precision Industry Co Ltd. (OTC: HNHPF) will handle the majority of the assembly for the 6.7-inch Pro Max model and the 6.1-inch Pro, while Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) will make the chips.
Price Changes: On Tuesday, Apple shares finished at $145.64, up 0.79 percent.
Read Next: Apple Is Considering Manufacturing Apple Car Batteries in the United States: Report (C) 2021 Benzinga.com. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
