The boys, aged 16 and 17-years-old, were approached by two men carrying weapons in Brook Road at around 6.30pm on Wednesday 6 February.
One of the victims was punched in the jaw by the attackers.
They stole both of their phones and one teenager also had cash and other items taken from him.
The thieves have been described as black.
Anyone with information is asked to call Loughton CID on 101 quoting crime reference numbers 42/20133/19 and 42/20140/19.
Alternatively, you can call Crimestoppers anonymously on 0800 555 111.
Tags: Loughton, Epping Forest
