Dec. 8, 2022 /SemiMedia/ -- According to Bloomberg, Apple supplier Murata Manufacturing Co. recently predicted that Apple will further cut iPhone 14 production plans in the coming months due to weak demand, which will force the company to downgrade its outlook for its mobile phone parts business.
Murata President Norio Nakajima pointed out that the global smartphone market will continue to deteriorate in the next quarter, although some Chinese smartphone makers plan to release new models during this period. However, he isn't optimistic, as the upcoming models don't have enticing new features.
Norio Nakajim believes that the decline in the mobile phone market will not improve much next year, at least in fiscal year 2022.
In addition, Nakajima believes that despite China's recent economic weakness, the world's second-largest economy will remain an important market for the electronics industry. Some of Murata's customers are moving production to Vietnam, India and other parts of Asia, but it's unlikely to pull out of China entirely, at least for the next five years or so.