According to a new report, Apple is making the next generation of iPhones. The production has already been started in March 2018. This year, Apple plans to change iPhone line up and introduce three new models. The leaks have been coming in hot about the upcoming iPhone SE 2, the cheapest iPhone ever.

Apple has outsourced the manufacturing of its latest iPhone to its partner Taiwan Semiconductor. They are developing an A12 chip. The chip is designed in a 7-nanometer design which is said to be more efficient and fast then the 10-nanometer chip used in the current flagships of Apple iPhone X, iPhone 8 and iPhone 8 plus.

See also, Warren Buffett says slow iPhone X sales in short-term is not a worrying factor for long-term Apple investors.

The new A12 chip will make Apple devices run apps fasters and operate consuming very less power. They are said to be quite power efficient as well. This new hardware will definitely favor Apple in various ways such as longer replacement rates of battery problems in iPhones.

See also, Apple made $34 billion despite slow iPhone sales in first quarter of 2018.

Apple has managed to grow in the first quarter of 2018 as the revenue from iPhones was up about $5 billion year-over-year, going from $33 billion to $38 billion in 2018. Although the number of iPhones sold only increased from 51 million to 52 million in 2018, this means that Apple is generating significantly more money per iPhone than it was last year.

Apple CEO Tim Cook confirmed this and said,

“Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter, I could not be prouder of the product.”

The company plans to continue its market share by making an A12 chip with a 7-nanometer design. The Korean tech giant Samsung claims that the company’s most powerful 7nm chip may arrive six months ahead of schedule. Since the company has invested billions in facilities that could be used to construct 7nm chipsets.

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