Apple owns up to iPhone 4 shortages

posted onJanuary 19, 2011
by hitbsecnews

Apple has underestimated demand for the iPhone 4 and is facing shortages of its iconic device, but has refused to commit to saying when its supply chain issues will be resolved.

In a question and answer session with financial analysts following its Q1 earnings announcement, Apple COO Tim Cook - currently running the firm as Steve Jobs prepares to take a medical leave of absence - said that Apple had not done enough to address demand for the iPhone 4.

"We do still have a significant backlog," he admitted. "We are working around the clock to build more. I feel great that the demand is so high but at this point I'm not going to predict when supply and demand will meet."

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