Apple Inc. (NASDAQ:AAPL) is increasing production of its new iPhone 11 by as much as 10% to meet stronger-than-expected sales demand.
The company has told suppliers that consumer demand for the latest iPhone is stronger than expected and that production needs to kick into a higher gear, according to numerous media reports. The production boost would add seven million to eight million iPhone units on top of what the Cupertino, Calif.-based company had initially planned on delivering.
It is not unusual for Apple to gradually ramp up orders as it gauges demand after a product launch and builds up to the holiday shopping season. The U.S. company has stuck with a previous projection for sales of up to 75 million new iPhone 11s in the second half of 2019.
Apple Chief Executive Officer Tim Cook told reporters Friday that he foresees a new growth cycle in the market for iPhones despite global malaise in the broader smartphone market.
Major improvements to the iPhone’s camera, including the addition of a new ultrawide lens for better architectural and tourist photos, alongside better battery life and improved durability seem to have resonated with consumers. Plus, Apple has lowered the iPhone 11’s starting price by $50 U.S., to $699 U.S., making it more attractive financially.
