The iPhone 15 Pro models will launch with a wide range of front-facing features which includes the new titanium build and better camera hardware. It was previously reported that Apple will be looking to increase the price of its standard as well as 'Pro' models of the iPhone this year. Today, a new report from DigiTimes is highlighting again that a 'major price hike' is imminent for the iPhone 15 Pro and iPhone 15 Pro Max.
iPhone 15 Pro models could see a major price hike amid ongoing inflation which could hurt potential demand
The increase in the price of the iPhone 15 Pro models could hurt the demand for the handsets. Apple is justifying the price increase by offering a plethora of features. It was previously reported that not only the 'Pro' models but the iPhone 15 and iPhone 15 Plus will also see a minor price hike. However, since demand for the standard models has been hurting for a while, we suspect the company could offer the devices at the same price.
As for the iPhone 15 Pro models, there are various reasons why the price could be increased. We have previously reported that Apple is expected to use grade 5 titanium on the iPhone 15 Pro models, allowing the devices to be lighter than the current stainless steel models but stronger. Additionally, the iPhone 15 Pro Max is expected to feature a periscope lens which could have incurred extra cost compared to the camera lens on the iPhone 14 Pro Max. Additionally, the faster A17 Bionic based on TSMC's 3nm fabrication will contribute to the increase in price of the iPhone 15 Pro models.
We have previously heard that Apple could increase the price of the iPhone 15 Pro models by as much as $200. As for the standard, it was coined that a minor price hike is imminent. As mentioned earlier, the price hike could allow people to stick to their current iPhones amidst the ongoing inflation. Users would prefer saving money instead of buying a depreciating asset. Apple is familiar with the demand and has ordered almost 10 million fewer devices from suppliers, ranging from 80 to 90 million units compared to 90 to 100 million units of the iPhone 14 models.
If the news has any heft to it, the iPhone 15 Pro Max could start at $1,299 compared to the $1,099 price of the iPhone 14 Pro Max. Take note that Apple will be offering a faster processor, better camera hardware, a stronger build, and higher base storage on the base model. With all of these improvements, the price hike is justified to some extent but amid inflationary concerns, it might not be a good idea for the company.
If the demand falls below Apple's speculated estimates, it could end up hurting the company's profit margins. Apple is expected to announce the iPhone 15 Pro models at its Wonderlust event on September 12. We will be covering the event extensively, so be sure to stick around.
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