Apple is set to unveil its new iPhone 18 Pro, iPhone 18 Pro Max, and the foldable iPhone Duo today, marking the first iPhone price hikes in months. According to a late-breaking Bloomberg report from Mark Gurman, the iPhone 18 Pro and Pro Max will increase by $100, setting a new starting price of $1199. This is significantly lower than analyst predictions of up to $300 increases. The price adjustment follows industry-wide memory component cost rises that already affected Macs and iPads starting in June.

The new foldable iPhone Duo will launch at $1999, with high-end models reaching approximately $3000. This undercuts earlier rumors of $2199 to $2499. Gurman notes Apple is absorbing some margins to hit the competitive $2000 price point, positioning the Duo against Android foldables starting around $1800. Apple expects the device to be a major hit, aided by the marketable price. Full coverage of the Apple event begins at 10 AM PT on 9to5Mac.