It's well known that Intel does product binning with their CPUs — essentially selling the same chip as multiple different chips with different specs and prices based on the tested properties of the chip.
My understanding is that this has to do with the fact that there's a lot of variation in the cutting edge IC manufacturing.
So how does a company like Apple deal with it? They don't have 10 different products with same generation CPU but different specs. They have just one, say, A10 chip that's in at most two-three different products (often just one), and they all have to work.
So how does it work? Do they purposefully build chips that are driven lower than they could perform to smooth out the variation? Do different iPhones have differently-performing CPUs? Does the same version of the chip put in iPhone/iPad/iPhone Plus actually have different specs (therefore allowing for some binning)?