iPhone 12 Mini and iPhone 12 Pro Max
Todd Haselton | CNBC
According to a report from Nikkei Asia on Wednesday, Apple has cut iPhone orders by 20% due to falling demand for its smallest iPhone 12 mini model.
Apple’s new iPhones are still in high demand. The company plans to produce 230 million iPhones in 2021, up 11.6% from 2020, according to Nikkei Asia. However, the iPhone 12 mini did not sell as well as expected as consumers were looking to the older iPhone 11, with a larger screen, the larger iPhone 12, or the higher-end iPhone 12 Pro models.
Shares of Apple closed down 0.91% on Wednesday.
Consumer sentiment seems to mirror the reviews of the phones when they first launched in November. CNBC, for example, says the iPhone 12 mini is essentially just a smaller version of the iPhone 12 with poorer battery life. And while it’s appealing to those with smaller hands, most consumers should just spend the extra $100 on the iPhone 12, which has better battery life and a larger screen.
However, the iPhone 12 models have largely brought success to Apple. Apple no longer discloses how many iPhones it sells each quarter, but in January, research firm IDC said the company shipped 90.1 million devices in Q4 2020, “the highest number of shipments since one supplier in a quarter” and helped lead Apple as the top seller of phones in the world, ahead of Samsung for the quarter. Apple’s iPhone revenue in the quarter also increased 17% year-over-year.
That momentum behind the iPhone 12 helped Apple record a record holiday quarter in 2020, the first time in the company’s history, bringing in more than $100 billion in a single quarter.
Apple was not immediately available for comment.
