Due to the absence of this small part, Apple is unable to make new iPhones, revenue growth is slowing down.

Due to the absence of this small part, Apple is unable to make new iPhones, revenue growth is slowing down.

Apple is now facing an issue that has shocked other automobile companies and small technology companies.

apple is suffering from this shortage

Tech giant Apple said that the global chip shortage could affect iPhone production. The company has also forecast a reduction in revenue growth. According to information received from Gizmochina, Apple executives said that revenue will increase by double digits in the fourth quarter of the current fiscal, but will be below the 36.4 percent growth rate in the third quarter.

CEO Tim Cook said the chips affected by the shortcomings are made using older technology, but they are still important as ancillary parts for making the iPhone. The report said that analysts believed that Apple could stockpile chips for its next generation iPhone models. According to the report, there are several reasons behind the global shortage of chips, including factory closures due to the COVID-19 pandemic and increasing demand for consumer electronics products and work from home setups during the lockdown.

Reports indicate that many players in the mobile phone industry are struggling to procure different types of semiconductors, including power management chips, display drivers, application processors, in addition to 4G and 5G chipsets. .

Recently, the company announced that iPhone revenue hit a record $39.6 billion in the June quarter. Which is growing 50 percent year on year and exceeds its expectations. The iPhone 12 family will soon be available worldwide including India.

Let us tell you that not only the smartphone business is suffering due to the shortage of chips, but it is also affecting the automobile industry. That is, no company is able to make new products and even if it is making, it is cutting its features or selling it at an expensive price.

(IANS)

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