transferring data to iPhone 14
does the current operating system on old phone have to upgraded to IOS 16 before transferring data to iPhone 14?
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No, you're fine. The rule is you can transfer data using backup restore or Quick Start provided the recipient phone is equal or higher version than the donor
If you think about it, anyone upgrading from iPhone 7 would be stuck!
Quick Start
Use Quick Start to transfer data to a new iPhone or iPad - Apple Support
or See the instructions in Transfer data from your previous iOS or iPadOS device to your new iPhone or iPad - Apple Support