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Shares of Apple's manufacturing partners rise on news of 75 million new 5G phones

Apple, the silicon valley's tech giant, manufacturing partners and suppliers share witnessed a rise on Tuesday as the company ramped up production of products ahead of the annual launch of the new iPhone line up, watch series, and other exclusive gadgets.

India TV Business Desk Edited by: India TV Business Desk
New Delhi Updated on: September 01, 2020 22:39 IST
iPhone 12, Apple iPhone 12, iPhone 12 launch event
Image Source : YOUTUBE VIDEO GRAB (EVERYTHINGAPPLEPRO)

Apple manufacturing partners share rise.

Apple, the silicon valley's tech giant, manufacturing partners and suppliers share witnessed a rise on Tuesday as the company ramped up production of products ahead of the annual launch of the new iPhone line up, watch series, and other exclusive gadgets. Apple's annual product launch event has been taking place in September for several years now, however, this fall, it seems to have delayed the launch, one reason could be the outbreak of the coronavirus.

According to Bloomberg, Apple's various suppliers including lens supplier Largan Precision Co. climbed 4.1 per cent, headphones assembler Goertek Inc. too saw 2.1 per cent and Taiwan Semiconductor Manufacturing Co. and LG Display Co. witnessed 2 per cent rise while Apple also rose 2 per cent around 10 am in New York.

It has been a trend with Apple manufacturing partners that they ramp up production near its annual product launch event ever year.

Meanwhile, this fall, Apple is planning to make 75 to 80 million units of iPhone (touted to be iPhone 12 5G as last year it was iPhone 11) along with iPads and new watch series.

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