India, Sept. 9 -- Tech giant Apple unveiled two new iPhone models at their biggest product launch event of the year at Apple Park in Cupertino, California on Wednesday.

Led by CEO John Terus from the stage, the company unveiled the iPhone 18 Pro and the iPhone 18 Pro Max - new models of the latest generation of Apple's flagship mobile.

CNBC reported that iPhone 18 Pro and iPhone 18 Pro Max will be priced significantly higher than the previous-generation iPhone 17 because of a global component shortage.

The company announced that the iPhone Pro will be priced at $1199 - 100 more than iPhone 17 Pro.

Meanwhile, iPhone 18 Pro Max will be priced at $1299 - $100 more than the iPhone 17 Pro Max.

This story is being updated.

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