Apple has reduced component orders for its iPhone 18 Pro and Pro Max models by 15% to 20% following weaker consumer demand and higher retail prices.

Apple has scaled back component production for the iPhone 18 Pro and Pro Max models by 15% to 20% amid rising memory costs and soft market demand.

Newly appointed Apple CEO John Ternus takes center stage at the company's product showcase to debut its first foldable iPhone and navigate pressing AI challenges.