Apple’s latest iPhone 18 Pro and iPhone 18 Pro Max may be facing a slower start than the company expected, with an analyst reporting relatively soft early pre-order demand for some models.
Pre-orders for the new Pro models opened on September 12 across the United States and several other markets. While some configurations are already facing multi-week delivery times, many others remain available for immediate delivery.
According to GF Securities analyst Jeff Pu, the initial demand picture is “lukewarm.”
The iPhone 18 Pro Max has the strongest signs of demand. In the United States, several 256GB and 512GB configurations currently have estimated waiting times of three to four weeks.
However, other configurations are still available immediately, suggesting that demand is not equally strong across the lineup.
Price could be one factor.
The iPhone 18 Pro starts at $1,199, while the iPhone 18 Pro Max begins at $1,299. Customers choosing higher storage capacities can spend considerably more, with the 2TB versions reaching $2,399 and $2,499 respectively.
That makes Apple’s new foldable iPhone Duo an interesting part of the equation.
The Duo starts at $1,999, putting it considerably above the standard Pro models but potentially giving consumers who are prepared to spend heavily another reason to reconsider which premium iPhone they want.
Analyst Jeff Pu believes the Duo could take some potential buyers away from the iPhone 18 Pro Max when its own pre-orders begin next month.
This could create an unusual situation for Apple.
Rather than competing against another smartphone manufacturer, Apple’s newest product could potentially compete with another product inside Apple’s own lineup.
There is also the question of how significant the upgrades in the iPhone 18 Pro actually are.
The new generation brings improvements to performance, cameras and battery life, but consumers upgrading from recent Pro models may not see enough of a difference to justify the higher price.
The situation is particularly important because Apple has historically relied heavily on its premium iPhones to drive revenue.
The company is now offering customers a wider range of high-end choices: the conventional iPhone 18 Pro, the larger Pro Max and the completely new foldable Duo.
Production could also become a factor.
Pu has reportedly reduced his production estimate for the iPhone 18 Pro and Pro Max to 72 million units, citing constraints connected to the new variable-aperture camera system.
He has also reduced his 2026 estimate for iPhone Duo production from seven million units to six million, with hinge-related production challenges cited as one reason.
That means Apple could face an interesting balancing act.
If demand for the conventional Pro models remains moderate while interest in the Duo grows, the company will need to manage production carefully across two very different premium products.
For consumers, however, the current situation creates more choice.
Someone looking for a traditional high-end iPhone can choose the 18 Pro or Pro Max, while consumers willing to spend significantly more can wait for the Duo.
The real test will come after both product lines have been available for several weeks.
At that point, Apple and investors will have a clearer picture of whether consumers want another familiar iPhone upgrade — or whether they are ready for Apple’s much bigger experiment with foldable phones.
