The new Apple iPhone 16 series was launched at the ‘It’s Glowtime’ event in California on Monday. Soon after the launch, Apple significantly slashed the prices of its iPhone 14 and iPhone 15 models. This price drop on previous generation models occurs every year when new iPhone models are launched.

Like every year, Apple has also officially discontinued iPhone 15 Pro and iPhone 15 Pro Max after the launch of iPhone 16 Pro models.