iPhone 13: Reports that Apple has reduced production of its new phone due to the global electronic chip crisis

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Apple announced plans to lower production targets for its new iPhone 13 models

Shares of the telecommunications and information technology giant Apple fell on Tuesday, affected by reports indicating the company’s intention to cut production targets for the iPhone 13 smartphone due to the continuing shortage of electronic chips worldwide.

Apple was aiming to produce 90 million phones of its new model in the fourth quarter of 2021, according to a report published by Bloomberg Economic Network.

But the current reality indicates that the company has to announce that its production will decline by about ten million smartphones of this model, according to a Bloomberg report.

Apple shares fell about 1.2 percent at the end of the trading session on the New York Stock Exchange on Tuesday, due to reports of cutting production targets.





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