The cuts include components for Apple’s newly launched iPhone 18 Pro and iPhone 18 Pro Max, according to the report.
Apple has grown more cautious on shipments as consumer demand has been dampened by price increases driven by the cost of memory chips, the report said.
The starting prices of the new flagship models of Apple’s smartphones are $100 higher than the comparable iPhone 17 models, per the report.
Apple did not immediately reply to PYMNTS’ request for comment.
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Global market research firm Counterpoint said in a Thursday (Oct. 8) press release that smartphone buyers around the world are aware of price increases and are waiting for deals.
Among consumers who plan to buy a smartphone within the next six months, 63% have noticed an increase in the prices of the devices, according to the release.
In addition, 50% of these respondents plan to wait for festive or holiday sales before buying a smartphone. In the United States, 54% of consumers said they plan to make their purchase around Black Friday, per the release.
Consumers are delaying their purchases and waiting for sales because of the rising prices of smartphones, Counterpoint Research Director Tarun Pathak said in the release.
“Rising memory costs are pushing smartphone prices higher, leaving OEMs with limited room to absorb the impact,” Pathak said. “Consequently, by the end of 2026, prices of existing smartphone models are likely to go up by 20% on average worldwide and new launched up to 30% YOY, according to our Global Smartphone Price Hike Report.”
Counterpoint said in an Aug. 21 insight that its expects global smartphone shipments to fall 14.3% year over year in 2026, and continue to decline in 2027, due to component costs and affordability pressures.
The company said it expected Apple shipments to decline 2.1% in 2026 but to grow 2.8% in 2027. Apple benefits from premium positioning, customer loyalty, financing options and preferential access to components, but could be impacted by higher launch pricing of the iPhone 18 series, Counterpoint said.
International Data Corporation (IDC) said in a July press release that the global smartphone market shrank 6.7% year over year in the second quarter due to the costs and supply challenges imposed by the memory crisis.
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