Apple’s iPhone 5 is a hot item and it doesn’t look like that demand for it will slow down anytime soon. Foxconn Technology Co., Ltd. (TPE:2354) recently admitted that they’re having a hard time keeping up with the huge demand for the popular smartphone.
Terry Gou, Foxconn Technology Co., Ltd. (TPE:2354)’s chairman explained, “It’s not easy to make the iPhones.“We are falling short of meeting the huge demand. We just can’t really fulfill Apple’s requests.”
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It’s reported that the iPhone’s ultra thin design is more complicated to make. But Foxconn Technology Co., Ltd. (TPE:2354)’s words echo what we’ve known before. Apple Inc. (NASDAQ:AAPL)’s sales of the iPhone 5 have been low since launch weekend, thanks to the low supply. The company’s stock decreased from the peak of $705.07 on launch day, to $561 on Wednesday.
Apple’s chief executive officer, Tim Cook, said, “Our output has improved significantly since earlier this month. I’m very, very pleased with the progress that we’ve made there; I’m pleased with the current level of output in what is the largest volume ramp in Apple’s history.”
It’s going to be a little while before Foxconn keeps up with the demand for the iPhone. Apple is a strong company that will continue to trail blaze the market. Last year, they lost the company’s co-founder and CEO, Steve Jobs. This year they released many new products, including the iPad 3, iPhone 5, iOS 6, iPad Mini, and iPad 4. The iOS 6 featured their first Maps application, but unfortunately, that venture flopped. Apple Inc. (NASDAQ:AAPL) has stumbled quite a bit this year, but it looks like the company is taking it all in stride.
It’s also important to remember that Apple Inc. (NASDAQ:AAPL) is still number one, and it doesn’t look like they’re going anywhere anytime soon. The one takeaway from all of this, is that Apple Inc. (NASDAQ:AAPL) may have underestimated the demand for their sixth generation smartphone. Hopefully, they can figure out where they went wrong and learn from their mistake.