Apple poised to slash iPhone production goals due to chip crunch

Bloomberg

Apple Inc. is likely to slash its projected iPhone 13 production targets for 2021 by as many as 10 million units because of prolonged chip shortages, according to people with knowledge of the matter, Bloomberg News reports.

The company had expected to produce 90 million new iPhone models in the last three months of the year, but it’s now telling manufacturing partners that the total will be lower because Broadcom Inc. and Texas Instruments Inc. are struggling to deliver enough components, said the people, who asked not to be identified because the situation is private.