Apple new iPhone had hit production glitches early in its manufacturing process and could lead to supply shortfalls and shipping delays following its launch next week, the Wall Street Journal reported on Thursday. The company's shares closed down 0.4 percent at $161.26. The production glitches pushed the manufacturing process back by about a month, the Journal reported, citing people familiar with the matter.
Apple did not respond to a request for comment. "There never appears to be a shortage of chatter about alleged production glitches at Apple but they seem to be able to crank out tens of millions of iPhones each quarter," BTIG analyst Walter Piecyk said in an email. "I also doubt someone interested in a new iPhone will change brands if they have to wait a few months," he added.
Fans and investors are eagerly looking forward to the 10th anniversary iPhone 8 to see whether it will deliver enough new features to spark a new generation to turn to Apple. The company is widely tipped to adopt higher-resolution OLED displays for the latest iPhone, along with better touchscreen technology and wireless charging - which could come with a $1,000 plus price tag.
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