As the business approaches the crucial Christmas selling time, Apple has stated that it does not know when more of its new foldable iPhones would be back in stock.
Despite being Apple’s most costly smartphone at almost $2,000, the iPhone Duo sold out little over a week after its release.
The business acknowledged that it was “really hard to predict when supply and demand will be in balance” and issued a warning about “constraints” in procuring essential components.
John Ternus, Apple’s new CEO, stated that the company was witnessing a “unprecedented” increase in memory prices, including processors.
Apple’s New iPhone Duo Faces Screen Issues
After taking over from former leader Tim Cook in September, Ternus started the Duo.
Although this is the smartphone’s first significant design update in over two decades, some customers have complained about screen issues.
Apple officials made no mention of any issues with the iPhone Duo when the company announced its most recent financial data on Monday.
Sales of the Duo, which was introduced at the end of October, were not included in Apple’s figures for the three months ending September 26.
Sales of the Duo, which was introduced at the end of October, were not included in Apple’s figures for the three months ending September 26.
However, Apple reported that during the last year, it has sold more iPhones worldwide than ever before.
Revenue from iPhones increased 17% to $57 billion (£42 billion) during the quarter.
Over the same year, Mac computer sales increased by 27% to a record $10.7 billion.
Between July and September, Apple’s total revenues increased from $102 billion to $114 billion. Additionally, pre-tax earnings rose from $32.8 billion to $36.1 billion.
Nonetheless, sales of the iPad and Apple’s wearable devices, such as its watch and headphones.
Apple Faces Chip Shortages and Rising Memory Costs
These parts, which are mostly produced by Taiwan-based TSMC, are essentially computer chip technology that enables faster operation of Apple products.
Khan stated that the issue, which mostly affects iPads and Macs, is anticipated to persist until the following year.
The corporation has always maintained that “unexpected demand” for its products has exacerbated the problem.
Ternus said that Apple continues to see “unprecedented” cost increases for memory, or the capacity of devices to store data such as text messages, applications, and images.
Apple Raises Prices Amid Investor Concerns
Apple has increased the cost of almost all of its hardware items by about 20%.
Apple had “a reasonably solid set of results” with a “pretty good performance” from its iPhone division, according to Sunil Krishnan of Aviva Investors.
Krishnan stated that “margins well north of 45% for a very well-established company, I think, are pretty impressive” in the larger context.
But in after-hours trade, Apple’s stock price dropped by 1.8%.
