Apple will no longer produce the iMac Pro as the company reportedly works on innovative new tech, like foldable iPhones and virtual reality gear (AAPL)

iMac Pro

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Apple will discontinue the iMac Pro after current supplies runs out. 

The tech giant will stop making new iMac Pros after inventory runs out, Apple told CNN Business. The $4,999 model comes with a 10, 14, and 18 core processors, Turbo Boost speeds of up to 4.5GHz, and Retina 5K display.

Apple released the iMac Pro, which it called the “fastest and most powerful Mac ever,” in December 2017. 

Apple’s announcement comes when the tech behemoth zeros in on new innovation. The company is reportedly working on an autonomous electric car, a foldable phone, and smart glasses. 

Jony Ive, Apple’s visionary design guru credited with devising the iMac and iPhone, left the firm in 2019 to form an independent design company. Ive’s exit, along with senior vice president of engineering Dan Riccio’s new assignment, could lead the way for fresh leadership to redefine the future of Apple products, Insider’s Lisa Eadicicco reported.

Read more: Inside Apple’s ambitious next decade, where it could redefine consumer tech with a VR headset, foldable iPhone, and even an Apple Car

Apple reported a record $111 billion in revenue in its fiscal first-quarter earnings, fueled by a successful launch of 5G iPhones and a demand for new hardware as employees worked from home during the pandemic. Sales of iPhones stayed constant even as the company briefly closed stores last year.

The iMac has seen steadily declining sales over the last two decades, accounting for a tenth of Apple’s total revenue as of 2018, down from 86.2% of total revenue back in 2000, per Statista.

Apple updated 21.5-inch and 27-inch iMacs in 2019 with more powerful processors and faster graphics. The update allowed consumers to purchase six-core and eight-core configurations in less expensive iMacs instead of purchasing the $4,999 iMac Pro. 

Apple did not immediately respond to Insider’s request for comment. 

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