Citi previews iPhone 18 supply chain ahead of September 9 launch

Investing.com -- Citi released its analysis of supply chain implications for Apple's iPhone 18 family, which is scheduled to launch on September 9 U.S. time.

The investment bank's Apple analyst expects the company to introduce its first foldable iPhone, likely named iPhone Ultra, with a starting price above $2,000. The iPhone 18 Pro and Pro Max models are projected to cost approximately $200 more than their predecessors.

Major upgrades across the iPhone 18 lineup are expected to include A20 chips, variable aperture main cameras for Pro and Pro Max versions, and Apple modems. The Ultra model is anticipated to feature dual front and rear camera designs, OLED and ultra-thin glass cover for the inner foldable display, and increased content in battery, vapor chamber heatsinks, and structural components.

Citi's analyst Atif Malik forecasts iPhone 18 shipments of 61.8 million units in the second half of 2026 and total iPhone shipments of 246 million units for calendar year 2026, representing a 1% year-over-year increase. The iPhone 18 Fold production plan calls for 7.5 million units in the second half of 2026 and 4 million units in the first quarter of 2027.

Foxconn is identified as the major assembler for iPhone 18 high-end versions, covering all Fold, Pro, and Pro Max models with a 61% allocation in second-half 2026 builds. Luxshare is expected to receive 33% of allocation covering Pro and Pro Max models.

Among supply chain components, Taiwan Semiconductor Manufacturing Co. is expected to benefit from sole supply of the A20 chip using 2-nanometer technology. Kioxia is projected to receive a relatively large allocation on NAND memory.

For camera components, LG Innotek is expected to benefit from rear main camera upgrades with variable aperture. Luxshare and Sunny Optical are identified as suppliers for actuators. Largan is projected to maintain its position in camera lens supply, while Genius and Sunny Optical are expected to gain share in certain lens categories.

For foldable phone components, Lens Tech will supply ultra-thin glass cover, CPI film lamination, and supporting film. Amphenol is expected to benefit from hinge modules. Lingyi is projected to see content increases from precision hinge structural parts, display support plates, ultra-thin vapor chambers, and battery steel-casing modules.

Samsung Display is expected to maintain leadership in high-end and foldable panel supply. TDK is projected to benefit from expanding adoption of metal battery cases beyond premium models into the standard iPhone lineup in the first half of 2027.

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