The boost would add seven million to eight million units to the Cupertino, California-based company’s smartphone production, the publication reported.

The increase may validate Chief Executive Officer Tim Cook’s strategy of offering budget-conscious consumers less expensive models amid signs of a weakening economy, it said.

Major improvements, including addition of a ultrawide camera for better architectural and tourist photos, alongside better battery life and improved durability may have resonated with consumers.

The entry point for new iPhones was also lowered for the first time, with the iPhone 11 starting at US$699 or US$50 less than its predecessor.

With the increase in production, Apple is anticipating selling more iPhones in the closing months of this year than it did during the same period last year.

Shares in suppliers Murata Manufacturing Co and Alps Alpine Co climbed after the report.