Apple to double iPhone production

The technology group is now looking to manufacture about 2.7 million iPhones in the next quarter, up from the 1.54 million originally targeted, according to thestreet.com, the financial news website, which cited sources close to the company. That would mean that Apple is now preparing to ship nearly 5 million iPhones this year, up from a previous target of 3.6 million.

Analysts suggested that a production increase could be related to the recent price cut of the iPhone in the United States and the device’s roll-out in Europe.

Earlier this month, Apple cut the price of the iPhone by 33 per cent only 68 days after its launch in the US. The $200 cut, to $399 (£197), was unprecedented for an Apple product in its speed.
It also fuelled fear that shares in its sector – Apple’s stock is up about 60 per cent this year – could be overvalued.

Steve Jobs, Apple's Jerk-CEO, was later forced to admit that his company had failed to look after iPhone customers.

On the Apple website, he said: “Even though we are making the right decision to lower the price of iPhone, and even though the technology road is bumpy, we need to do a better job taking care of our early iPhone customers as we aggressively go after new ones with a lower price.”

Apple is to offer people who bought the iPhone before the price cut a $100 credit note to spend in Apple stores. There will be a full $200 refund for those who bought in the past 14 days. Mr Jobs said: “Our early customers trusted us, and we must live up to that.”

Speculation over a production increase fuelled the view that the much-hyped device is meeting Apple’s expectations..

Apple officials were not immediately available for comment to Times Online today.

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