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Apple Has Ordered a Lot More 'iPhone 7' Handsets Than Expected

Shares in Apple manufacturer were boosted as a result of the news
May 23, 2016

It looks like Apple has ordered a heck of a lot more “iPhone 7” handsets than previously expected. In fact, Apple is set to have ordered some 78 million handsets, and shares in the company’s parts-assembler, Pegatron, have rocketed as a result.

It hasn't been a great year for Apple so far, but the iPhone 7 is expected to change this.

The news comes from the Taiwanese newspaper Economic Daily (via Fortune), which explained that Apple has apparently told suppliers that it’ll need between 72 and 78 million new iPhone 7 handsets. This is a lot more than anyone, including Apple analysts, had anticipated. The new iPhone is expected to be launched in September, and it’ll offer users a number of significant improvements on the current-generation model.

Shares in Apple suppliers and assemblers, including Pegatron and Foxconn, went up following the news. Pegatron gained 10 percent, for instance, and Foxconn gained five percent. Taiwan Semiconductor Manufacturing Company (TSMC) gained four percent. Apple shares, however, were up less than one percent. It hasn’t been a great year for Apple so far, but the iPhone 7 is expected to change this.

Apple’s iPhone 7 is expected to offer users a tweaked hardware design, a dual camera system (along with 3GB of RAM), and improved internals. Before it’s announced, however, we’ll see the software which will power the iPhone 7: iOS 10 should be unveiled during Apple’s forthcoming WWDC conference.

As always, we’ll keep you posted with further information as we receive it.