Apple is reportedly considering raising prices on its upcoming premium iPhone models, the iPhone 15 Pro and iPhone 15 Pro Max, according to a recent report from The Information. The potential price increases would aim to offset declining sales and lower profit margins on less expensive iPhone models, as the company strives to maintain revenues amidst economic challenges.

Last week, The Information reported production issues related to LG-manufactured OLED screens for the Pro models, warning of possible launch shortages. However, a separate Bloomberg report cites an unnamed source who described the situation as a minor complication that should be resolved within a week or two, without any significant impact on the broader iPhone 15 production timeline.

Apple is widely expected to unveil its iPhone 15 lineup in early September, following its traditional smartphone reveal schedule. Rumored new features for the iPhone 15 series include enhanced battery technology offering increased energy density, an upgraded A17 processor chip likely exclusive to the Pro and Pro Max models, expanded Apple Vision camera capabilities enabled through enhanced hardware and software integration, and the potential addition of a periscope lens system on the iPhone 15 Pro Max, allowing for increased optical zoom range.

Earlier rumors pointed to the inclusion of touch-enabled side buttons on the Pro models, but technical challenges have reportedly led Apple to shelve that proposed feature until at least next year’s iPhone release.

The smartphone market is showing signs of maturation, with research firm Counterpoint Reporting that Q2 2022 represented the eighth straight quarter of year-over-year shipment declines industry-wide. As the market moves past its rapid growth stage, Apple appears to be pursuing a strategy of premium innovation, pairing price increases on high-end models with exclusive features, in a bid to maintain revenues and profitability.