Apple To Slash iPhone 13 Production; Chip Shortage
Owing to the shortage of chips in the global market, Apple Inc is likely to reduce the production of iPhone 13 by 10 million units. Reportedly, the company's share also fell by 1% in after-hours trading. According to media reports, major chip manufacturers such as Broadcom Inc and Texas Instruments are unable to supply chips as they are also facing a shortage of raw materials.