Apple to keep iPhone 15 targets high as it considers raising price of Pro models

Move comes as tech giants navigates projected decline in smartphone market

Apple and its rivals are grappling with sharp declines in consumer demand for electronics in the face of surging prices and economic uncertainty. Picture: REUTERS/Mike Segar

Apple is keeping its production targets high, despite tumult in the global economy and a projected decline in the overall smartphone market.

The tech giant is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, according to people familiar with the matter.

Despite industry challenges, it’s likely to increase revenue overall as it considers raising the price for Pro models, sources say.

The ...