Loading...
See More

Foxconn cannot meet demand for iPhone 5

Nov 08 2012 07:31 AFP, Dow Jones Newswires
iPhone 5

Apple's new iPhone 5 (AFP)

Related Articles

New iPhone sells 5 million in 3 days

iPhone 5 to be added to patent war

Apple's new iPhone 5 'bigger, faster'

New iPhone may boost US GDP - analyst

Samsung fights back against Apple

Long queues for iPhone 5 rollout

 
Taipei - Taiwan's Foxconn has admitted that it cannot meet strong demand for Apple's new iPhone 5 due to difficulties in building the gadget, amid concerns over the US giant's future earnings.

"We can't really fulfill Apple's requests. Our shipments are insufficient... given the huge market demand," Foxconn chairperson Terry Gou told reporters late on Wednesday.

He added that the design of iPhone 5, of which five million were sold over its launch weekend in September, has made the production difficult but did not elaborate.

He declined to say whether Foxconn plans to outsource some of the iPhone orders to other makers.

The iPhone has been a huge driver of Apple's phenomenal profits, along with the iPad, both of which are made by Foxconn, as other products by other firms such as Nokia, Intel and Sony.

Peter Oppenheimer, Apple's Chief Financial Officer, said on October 25 that demand for the iPhone 5 continued to outstrip supply, but it was working hard to catch up.

A lack of supply of the phones has hurt Apple's shares in recent weeks owing to concerns it may not be able to meet demand in the near future, which would in turn hit earnings.

Last month Apple said net profit in the July-September quarter climbed to $8.2bn thanks to a 58% jump in sales of its phones and a 26% rise in tablet sales.


foxconn  |  apple  |  iphone 5
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...