New forecast has 2016 iPhone production reaching a two-year high

Hold on! Perhaps Apple isn’t doomed after all. Taiwan’s Economic Daily — as noted by Barron’s said Apple had asked its suppliers to produce 72 to 78 million new iPhones by the end of the year, the highest production target in about two years. The street had expected only 65 million iPhone 7s to be produced this year.

According to the Taiwan newspaper, Hon Hai Precision Technology will remain the key assembler for the “iPhone 7” and Pegatron Corp. will be involved in the assembly process too. Both companies are expected to gain more market share this year, as they participate in dual camera, glass casing components production in addition to being assemblers.