(Bloomberg) Apple Inc. has warned its suppliers to expect a slump in demand for iPhone 13 heading into the holiday season as consumers forgo shopping on Omicron and inflation concerns.
Some customers are believed to wait for the upcoming upgrade of iPhone 13 next year to go shopping.
The warning by Apple is a blow to the company as it initially cut iPhone 13 production by 10 million units this year due to the global chip shortages.
Despite the warnings, Apple is headed for a record holiday season. Analysts project sales of up to $117.9 billion in the third quarter, up 6%.
Flagship iPhone 13 accounted for about half of Apple’s revenue in the last fiscal year. The gadget retails at $799 for the standard model, while the Pro model goes for $999.
AAPL: NASDAQ is down -1.84% on premarket.
