Apple CEO Tim Cook today revealed that the company has been struggling to keep up with the growing demand for the new iPhone 14 Pro and iPhone 14 Pro Max. Constraints in supplies have had an impact on sales.
Demand for iPhone 14 Pro models has been higher than Apple anticipated
During the company’s earnings call for the fourth quarter of 2022, Cook revealed that Apple is “working very hard to fulfill demand,” and that customer demand has been stronger than previously predicted. The CEO went on to reveal that supplies will likely be constrained “for a little while.”
Apple’s iPhone sales for the fourth quarter of 2022 make up almost half of its entire revenue during the time period. The tech giant reported record earnings of $90.1 billion, in which iPhone sales make up $42.6 billion. The tech giant saw 10% growth in this segment in both large and emerging markets like Vietnam, Mexico, and others.
Currently, consumers who order the iPhone 14 Pro or Pro Max in the United States will have to wait until November to receive the device.
This year’s Pro models feature a new display cutout called the Dynamic Island, the A16 Bionic chip, a 48MP camera system, and more. The display of this year’s Pro models is also 120Hz and supports an always-on display functionality. On the other hand, the standard models feature the same design from last year as well as the same A15 Bionic chip that was used in the iPhone 13 Pro and iPhone 13 Pro Max.
Given the significant gap between this year’s standard and Pro iPhones, it seems natural that the iPhone 14 Pro and Pro Max are in higher demand. And that demand is expected to keep on increasing as we enter the forthcoming holiday season. On the other hand, orders for the standard iPhone 14 and iPhone 14 Plus have been stable, but nothing too impressive.
- Apple’s new iPhone 14 Pro could help it capture over half of the high-end smartphone market
- Lead times for iPhone 14 Pro drop below those for iPhone 13 Pro in the same period of availability
- Apple supplier Foxconn sets new monthly revenue record thanks to iPhone 14 Pro demand
- Apple is prioritizing iPhone 14 Pro production over standard models