Apple Foldable iPhone Production Hits Snags Before September Launch

Apple's stock fell by 2% on Friday as investors reacted to reports that initial production of the company's highly anticipated foldable iPhone is facing significant supply hurdles.

The report, attributed to a Nikkei Asia source, states that production was running at only a few hundred units per day in late August, primarily due to Apple's stringent quality-control requirements.

Industry executives cited by Nikkei Asia said tens of thousands of devices would normally need to be produced each day to meet Apple's planned production target of 8 million to 10 million foldable iPhones this year.

The company has also faced engineering and test-production challenges, reportedly requiring more stringent durability testing than rival smartphone makers.

Apple is expected to unveil its latest iPhone lineup, including the highly anticipated foldable model, at a launch event on September 9. The device marks Apple's entry into a category already served by competitors such as Samsung and Huawei.