Global shipments of iPhone 14-series smartphones are forecast to reach 85 million units by the end of the year after Apple Inc launches its next-generation models later this year, Yuanta Securities Investment Consulting Co (元大投顧) said in a note yesterday.
Shipments by Apple’s major iPhone assemblers — Hon Hai Precision Industry Co (鴻海精密), Pegatron Corp (和碩) and Luxshare Precision Industry Co (立訊精密) — are expected to reach 22 million units by the end of this quarter and add another 63 million units next quarter, Yuanta said.
Hon Hai is also known as Foxconn Technology Group (富士康科技集團) on the global market.
Despite no order cuts from Apple so far, the 85 million units forecast is lower than a market consensus forecast of 90 million to 92 million units, given a global economic slowdown and price hikes, Yuanta said.
Apple is expected to launch four new models in the iPhone 14 series: the iPhone 14, iPhone 14 Max, iPhone 14 Pro and iPhone 14 Pro Max, with Hon Hai the sole assembler of the iPhone 14 Pro and 14 Pro Max, Yuanta said.
Pegatron would be the major assembler of the iPhone 14 Max, while Chinese rival Luxshare would supply the iPhone 14 and 14 Max, it said.
“According to the order allocation of iPhone 14 series, high-end models will account for up to 53 percent of shipments, with Hon Hai to be the greatest beneficiary and Pegatron to see stronger new model shipments, compared with sluggish iPhone 13 Mini sales last year,” the note said.
Rumors have circulated that production of organic light-emitting diode (OLED) panels for the iPhone 14 series was behind schedule, which would likely slow the process of new model assembly.
However, Yuanta said that mass production of iPhone 14s series units remains on schedule amid normal panel supply.
“According to our supply chain checks, the OLED panel supply for the iPhone 14 and iPhone 14 Max is stable, with shipments to remain unaffected, and the rumor is a mistake,” the note said.
Yuanta said that LG Display Co is a major panel supplier for the iPhone 14 series, with any potential supply gap to be filled by Samsung Display Co and BOE Technology Group (京東方).
Separately, Hon Hai yesterday said that operations at its Shenzhen facilities were “normal” and it would follow government guidelines to ensure safe production.
The company’s remark came after the Shenzhen City Government asked 100 major companies, including Hon Hai, to implement a “closed loop” management system for a week as the technology hub in southern China reported 21 new locally transmitted COVID-19 infections on Sunday, up from 19 a day earlier, Bloomberg reported.
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