Apple Ramps Up iPhone Production In Anticipation of First Post-COVID Rollout

China's consumer inflation rose 1.1 percent in June, Shanghai - 09 Jul 2021

Apple is set to boost its iPhone production by 20% in anticipation of a massive wave of upgrades.

See: Microsoft Joins Apple As Second Publicly Traded US Company to Hit 2T Market Cap
Discover: Apple Pay Now Accepts Coinbase Debit Card

According to Bloomberg, the company has maintained a consistent level in recent years of approximately 75 million units for the initial run from a device’s launch through the end of the year, and has recently asked suppliers to build as many as 90 million next-generation iPhones this year.

“The upgraded forecast for 2021 would suggest the company anticipates its first iPhone launch since the rollout of COVID-19 vaccines will unlock additional demand. The next iPhones will be Apple’s second with 5G, a key enticement pushing users to upgrade,” according to Bloomberg.

More: The 6 Best Cellphone Plans of 2021: How To Save on Your Cell Bill
Related: Samsung Delivers Strong Q2 Profit Gains As Chip Shortage Hits OLED Smartphones and TVs

Make Your Money Work Better for You

Another factor in the ramping up is to take advantage of Huawei Technologies Co.’s sanction-stricken smartphone business, Bloomberg adds.

The Chinese company was put on a blacklist known as the Entity List in 2019 which restricted its access to some American technology “on the basis of information that provided a reasonable basis to conclude that Huawei is engaged in activities that are contrary to U.S. national security or foreign policy interests” and its non-U.S. affiliates pose a significant risk of involvement in activities contrary to the national security of the United States, according to a statement from the Department of Commerce.

In addition, last year, Washington moved to cut Huawei off from key semiconductor supplies, Bloomberg reports.

Learn: Apple, Google and 8 More Big Companies Making Green by Going Green
Find: Fake Tesla, Apple, Amazon Stocks Are Trading on Blockchains

As of this morning, Apple’s stock was up 2.21%.

More From GOBankingRates

Last updated: July 14, 2021

Share this article:

facebook sharing button
twitter sharing button
linkedin sharing button
email sharing button
Make Your Money Work Better for You

About the Author

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored  the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.
Learn More


See Today's Best
Banking Offers