Sources close to the matter said that the company had to wait longer than usual to manufacture the new models due to supply issues surrounding the coronavirus.
Apple asked suppliers to manufacture at least 75 million 5G iPhones that it anticipates selling by the end of the year. Apple’s 5G technology rollout will also feature new products, a new iPad Air, two new Apple Watches, over-ear headphones, and a smaller HomePod speaker.
Despite high unemployment and higher than average savings rate, Apple is reporting strong demand. Its release of 5G tech could be a sign that consumers are still willing to buy Apple products.
Sales for Apple were up in Q3, with the company reporting an 11 percent increase, totaling $59.7 billion.
For now, 5G capability is slowly making its way through the U.S. Earlier this year, the FCC approved Ligado’s L-band technology, widening the spectrum of 5G options. Additionally, each carrier employs a different method of facilitating 5G. Verizon is said to boast the fastest speeds, while competitors AT&T and T Mobile use alternative methods.
However, timing may not be on Apple’s side. With consumer confidence falling and many people without extra savings to get them through the next few months, it could be a while before Apple sees strong sales for the 5G technology.
However, 5G speeds could be appealing for consumers during the pandemic who rely heavily on technology, especially for work and school, as they spend most of their time stuck at home.