Apple will likely have to cut its iPhone 13 production goals for 2021 due to the global chip shortage

• Apple is likely to lower its iPhone 13 production targets for 2021, Bloomberg reported.
• The smartphone maker may aim for 10 million fewer units than originally planned.

Apple will likely have to cut its 2021 production targets for the iPhone 13 by as many as 10 million units due to the ongoing chip shortage, Bloomberg reported Tuesday.

Apple originally planned to make 90 million units of its newest smartphone in Q4 2021, but has told manufacturing partners it's now aiming lower because supply-chain partners Broadcom and Texas Instruments may not be able to deliver enough components for that many devices, according to Bloomberg, citing people with knowledge of the matter.

Apple did not respond to a request for comment on this story.

The chip shortage has impacted supply chains around the world, hitting the tech industry, automakers, and other tech-enabled products. It's expected to cost companies hundreds of billions of dollars in 2021, and experts say it could last another two years.

Insider's Hillary Hoffower, Ben Winck, and Andy Kiersz recently reported that much of the shortage can be traced back to the US-China trade war.