Apple backtracks on iPhone 14 Plus production cut report

shares apple Tuesday reviewed a report that the company had asked one supplier to stop producing a component for the iPhone 14 Plus while the company reassessed the order.

An Apple manufacturer in China has been instructed to immediately stop production of a phone component less than two weeks after its debut, according to the information. The report says that two other suppliers that assemble units of this ingredient have also significantly reduced production.

The iPhone 14 Plus, which starts at $899, is a cheaper alternative to the company’s iPhone 14 Pro Max model, which starts at $1,099.

The new report indicates that consumers are choosing the more expensive model of the two iPhones with large screens. This refers to a previous report from Bloomberg He said the company has asked suppliers to salvage plans to ramp up iPhone 14 production in September. (The iPhone 14 is the cheaper alternative to the iPhone 14 Pro.)

Bloomberg said demand for the new models failed to rise as expected.

Apple declined to comment on the report.

The shares traded around $145 and lost about $4 a share on the report, but have since recovered a bit. Apple stock is flat on the day.