The new iPhone X is displayed in the showroom after the new product announcement at the Steve Jobs Theater on the new Apple campus on Tuesday, Sept. 12, 2017, in Cupertino, Calif. (AP Photo/Marcio Jose Sanchez)
The new iPhone X is proving extremely popular as waiting times for delivery are stretched. Marcio Jose Sanchez/AP

Apple's iPhone X suppliers' shares surge on huge demand



Apple’s biggest suppliers from Taiwan Semiconductor Manufacturing to Hon Hai Precision Industry climbed on Monday after delivery times for the iPhone X stretched to as much as six weeks in the US, underscoring demand for the marquee smartphone.

Shares in Hon Hai, the main assembler of Apple devices, climbed as much as 3.6 per cent in Taipei. TSMC, the US company’s biggest chip supplier, rose as much as 2.5 per cent to a record. Other suppliers from AAC Technologies in Hong Kong to Lens Technology in mainland China also advanced, tracking Apple’s own gains Friday.

Apple, which says demand for its signature gadget is “off the charts”, began taking orders for the iPhone X Friday and - within minutes - shipping times lengthened to as much as six weeks in the US. That suggested tight supply over the crucial holiday season, when retailers make the majority of their revenue. The US company was also said to have struggled to make enough of its costliest device, in part because of quality issues with the sensors that make Face ID possible.

The pre-orders situation is “easing concerns that demand for the iPhone X might not meet expectations”, Bloomberg Intelligence said in a report released over the weekend. “Telecom carrier reports of relatively weak demand for the iPhone 8 stoked these fears.”

Around the world, Apple fans posted images and comments online Friday about how they were planning to get their hands on one of the US$999 (or more) phones. In Hong Kong, the phone appeared to sell out less than half an hour after ordering began in the mid-afternoon, with the online store there showing the phone “currently unavailable”. It was a similar story across Asia.

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In the UK, the device sold out within minutes. By mid-morning, customers were being told they would have to wait four to six weeks before the phone became available. And if New Yorkers didn’t stay up all night, they were likely out of luck. By early morning on the east coast, Apple’s website was already registering a wait of as much as six weeks.

Waiting several weeks for major new Apple devices has become common. Shipping times for the iPhone 6 and iPhone 6 Plus, launched in 2014 and the previous end-to-end iPhone overhaul, extended to as much as four weeks in the hours after becoming available to pre-order. Apple typically takes a few weeks or months to reach a balance of supply and demand for major new iPhone launches.

The iPhone X has a crisper OLED screen with slimmer bezels, matching recent designs from Samsung Electronics, in addition to a unique facial recognition scanner that lets the user unlock the phone rather than using a fingerprint. Apple struggled to manufacture aspects of the new features, and the iPhone X’s November 3 debut will be about six weeks after the arrival of the iPhone 8, which is a less sophisticated device.

“The Apple supply chain was strong this morning as the iPhone X sales are good,” said Allan Lin, an assistant vice president at Concord Securities Corp.

BAD BOYS: RIDE OR DIE

Director: Adil El Arbi and Bilall Fallah

Starring: Will Smith, Martin Lawrence, Joe Pantoliano

Rating: 3.5/5

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

THE STRANGERS' CASE

Director: Brandt Andersen
Starring: Omar Sy, Jason Beghe, Angeliki Papoulia
Rating: 4/5

LEAGUE CUP QUARTER-FINAL DRAW

Stoke City v Tottenham

Brentford v Newcastle United

Arsenal v Manchester City

Everton v Manchester United

All ties are to be played the week commencing December 21.

The years Ramadan fell in May

1987

1954

1921

1888

The specs

Engine: Dual permanently excited synchronous motors
Power: 516hp or 400Kw
Torque: 858Nm
Transmission: Single speed auto
Range: 485km
Price: From Dh699,000

Tenet

Director: Christopher Nolan

Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh 

Rating: 5/5

Company profile

Name: Tharb

Started: December 2016

Founder: Eisa Alsubousi

Based: Abu Dhabi

Sector: Luxury leather goods

Initial investment: Dh150,000 from personal savings

 

UAE - India ties

The UAE is India’s third-largest trade partner after the US and China

Annual bilateral trade between India and the UAE has crossed US$ 60 billion

The UAE is the fourth-largest exporter of crude oil for India

Indians comprise the largest community with 3.3 million residents in the UAE

Indian Prime Minister Narendra Modi first visited the UAE in August 2015

His visit on August 23-24 will be the third in four years

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, visited India in February 2016

Sheikh Mohamed was the chief guest at India’s Republic Day celebrations in January 2017

Modi will visit Bahrain on August 24-25