Apple warns of lower iPhone shipments

Apple Inc expects lower shipments of premium iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted plant in China, dampening its sales outlook for the busy year-end holiday season, Qazet.az reports according to company.

Demand for high-end smartphones assembled at Foxconn's Zhengzhou plant has helped Apple remain a bright spot in a technology sector battered by consumer spending cutbacks amid surging inflation and interest rates.

"The facility is currently operating at significantly reduced capacity," Apple said on Sunday without detailing the scale of the reduction.

"We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated," it said in a statement.