**Apple to cut iPhone production as demand wanes**
Apple is reportedly planning to cut production of its iPhone 14 series by as much as 6 million units, as demand for the new devices falls short of expectations, according to a report from Bloomberg.
The report, citing people familiar with the matter, said that Apple had originally planned to produce 90 million iPhone 14 units, but has now reduced that number to around 85 million.
The cut in production is said to be due to a number of factors, including a weaker-than-expected demand for the new models, as well as supply chain disruptions caused by the COVID-19 pandemic.
Apple did not immediately respond to a request for comment.
The iPhone 14 series was launched in September 2022 and includes four new models: the iPhone 14, iPhone 14 Plus, iPhone 14 Pro, and iPhone 14 Pro Max.
The new iPhones have received mixed reviews, with some critics praising their improved cameras and faster performance, while others have criticized their high prices and lack of major design changes.
The cut in iPhone production is a sign that the smartphone market is starting to slow down, as consumers become more price-sensitive and less likely to upgrade their devices every year.
Apple is not the only company facing challenges in the smartphone market. Samsung, the world’s largest smartphone maker, also reported a decline in sales in the third quarter of 2022.
The slowdown in the smartphone market is expected to continue in 2023, as the global economy faces a number of challenges, including inflation, rising interest rates, and the war in Ukraine.
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