Apple is slashing orders for its newly launched iPhone 18 Pro and iPhone 18 Pro Max as surging memory chip costs and price increases have lowered consumer demand for the devices.

The company has taken a different approach on shipments of the iPhones since September, with component orders for October being cut roughly 15%, according to Reuters, citing a Nikkei Asia report.

Dig deeper: In September, Apple debuted the latest generation of its flagship smartphone, with the iPhone 18 Pro and the 18 Pro Max handsets, alongside its foldable phone duo.