Apple Cuts iPhone 14 Plus Production To Tap Demand For Premium iPhone Pro Models

Apple Inc AAPL slashed the iPhone 14 Plus production less than two weeks after its debut, the Information reports.
Apple has told at least one manufacturer in China to immediately halt production of iPhone 14 Plus components while its procurement team reevaluated demand for the product.
Apple had positioned the iPhone 14 Plus as a cheaper alternative to its more expensive iPhone Pro models equipped with a large screen.
Two downstream Apple suppliers in China that rely on the parts and assemble them into larger modules also reduced their production by 70% and 90%, respectively.
Also Read: 'Bye China': Apple Shifting Substantial iPhone Production To India Over 3 Years
The cuts come amid a weaker global economy and rising inflation, which has hurt consumer spending. The iPhone 14 Plus has caused some consumers to opt for the more expensive and feature-filled iPhone 14 Pro due to the price difference of just $100.
Apple had reportedly canceled plans to boost overall iPhone 14 production and shifted production capacity to the Pro models.
While Apple has asked at least one manufacturer to boost parts production for the iPhone 14 Pro and Pro Max, the increases are insignificant compared to the cut to iPhone 14 Plus components.
As of now, Apple is still planning to include the Plus model in its iPhone 15 lineup next year.
Price Action: AAPL shares traded lower by 1.01% at $142.33 in the premarket on the last check Wednesday.
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