Apple has asked suppliers to increase production of its iPhone 11 models by up to 8 million units, or about 10 percent, Nikkei Asian Review reported on Friday, citing better than expected demand.
“Previously, Apple was quite conservative about placing orders,” which were less than for last year’s new iPhone, said the Nikkei quoting a source.
“After the increase, prepared production volume for the iPhone 11 series will be higher compared to last year.”
Sources cited by Nikkei said that the recent surge in iPhone orders is concentrated in the cheapest iPhone 11 model and the iPhone 11 Pro model, while Apple has slightly revised down orders for its top range model, the iPhone 11 Pro Max, which has a starting price of $1,099.
The newspaper also reported that suppliers remain cautious and said they were concerned that the higher level of orders would not be sustained.
“Demand is good for now. But we have to be careful not to be too optimistic,” an executive-level source said in the report. “I hope that this year’s peak season lasts longer than last year.”
Apple did not respond to a Reuters request for comment outside regular US business hours.
The company launched its three new iPhone models in September and reduced the starting price of the model upgrade, despite better cameras, to $699, compared to $749 for last year’s iPhone XR.
Nikkei: Apple raises iPhone 11 production by about 10%
Nikkei: Apple raises iPhone 11 production by about 10%
- The recent surge in iPhone orders is concentrated in the cheapest iPhone 11 model and the iPhone 11 Pro model
- Apple launched its three new iPhone models in September and reduced the starting price of the model upgrade
Arab Energy Fund takes minority stake in Saudi energy firm APSCO
RIYADH: The Arab Energy Fund has acquired a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co., backing one of the Kingdom’s largest private energy solutions providers as it looks to expand across the Middle East and beyond.
The investment initiates a partnership aimed at pursuing opportunities across the Middle East, North Africa, and select international markets, covering APSCO’s core and adjacent business sectors.
The move underscores TAEF’s commitment to investing in established regional leaders while promoting innovation and sustainable growth across the energy value chain.
According to a press release, the transaction marks The Arab Energy Fund’s first investment of 2026, following an active 2025 during which the fund completed several key deals, including investments in Jafurah Midstream Gas Co. alongside BlackRock and in the platform Tagaddod.
Khalid Al-Ruwaigh, CEO of The Arab Energy Fund, commented on the deal, saying: “APSCO represents a unique platform with strong fundamentals and a proven track record in critical energy segments.”
He added: “This investment aligns with our mandate to support high-quality energy and energy-adjacent businesses that are well-positioned to capture growth across the region and beyond.”
The Arab Energy Fund is a multilateral impact financial institution established in 1974 by 10 Arab oil-exporting countries.
Mohammed Ali Ibrahim Alireza, managing director, APSCO, said: “We welcome The Arab Energy Fund as a strategic partner supporting our next phase of growth.”
He added: “As a pioneer in energy solutions for over 60 years, APSCO remains committed to quality, reliability, and innovation, while continuing to contribute to Vision 2030 by enhancing efficiency and minimizing environmental impact.”
The partnership is designed to bolster APSCO’s long-term growth strategy, operational excellence, and geographic expansion, leveraging TAEF’s regional expertise and institutional network.
APSCO is a Saudi energy company with more than 60 years of experience in integrated energy solutions, including aviation fuels, lubricants, and a nationwide automotive retail network.
The company holds long-term partnerships with global energy leaders, including a 60-year relationship with ExxonMobil for lubricant distribution across several Middle Eastern countries. Since 1999, APSCO has also been the exclusive aviation fueling services provider for Saudia.
