Coronavirus could complicate Apple iPhone production
Apple wants suppliers to make 10% more iPhones this year
Apple plans to have suppliers boost iPhone production in the first half of the year, according to the Nikkei.
Suppliers have reportedly been asked to up production by 10 percent to up to 80 million iPhones, according to people familiar.
However the outbreak of the coronavirus could interfere with that plan.
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The main manufacturing centers in China are in Henan and Guangdong provinces, with more than 100 confirmed cases as of Monday afternoon, and in Shanghai, with over 50 confirmed cases.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 169.89 | +0.87 | +0.51% |
Chinese authorities have locked down Hubei Province, saying the virus had so far claimed 106 lives on the mainland, with over 4,500 confirmed cases.
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Apple shares touched a record high of $323.32 on Jan. 24, but have taken a hit on virus-related fears. The stock closed down 2.9 percent on Monday at $308.95.
Suppliers also say Apple is also boosting production of its AirPods wireless earbuds, by up to 45 million for the first half of this year.
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Apple declined to comment to the Nikkei.