Ming-Chi Kuo, an analyst at Tianfeng Securities, said that due to factors such as supply disruptions at the Foxconn factory, shipments of the iPhone 14 Pro and iPhone 14 Pro Max in the fourth quarter of 2022 will be significantly lower than expected.
Ming-Chi Kuo has lowered his shipment forecast for these two iPhone 14 Pro models to 70-75 million units, which is up to 20% lower than the previous estimate (80-85 million units).
Guo Mingchi said that the average capacity utilization rate of the factory in November was only about 20%, and it is expected to increase to 30-40% in December. He said that Pegatron and Luxshare received about 10% of the iPhone 14 Pro and 14 Pro Max orders from Foxconn respectively, but large-scale orders will not be until late December at the earliest.
Due to long shipping delays and inflation, Kuo believes that most of the consumer demand for iPhone 14 Pro models will simply “disappear” this quarter, rather than being delayed. This suggests that many customers who would buy an iPhone 14 Pro now won’t come back to order the device in January or later when supply improves.
Another important point that Guo Mingchi mentioned in this report is that Foxconn faced the challenge of lower-than-expected revenue in the fourth quarter of this year, and since Apple diverted more orders to Pegatron and Luxshare Precision, the future It is difficult for Foxconn to continue to be the exclusive assembler of iPhone 15 Pro high-end models.
