Apple Considering Raising iPhone 15 Pro, Pro Max Prices

Quincy Jon, Tech Times 24 July 2023, 12:07 pm

Apple is purportedly planning to increase the cost of its next iPhone 15 Pro and Pro Max models to boost income in the face of expected declines in smartphone sales, according to recent reports.

According to Bloomberg, which cited knowledgeable insiders, Apple plans to produce around 85 million iPhone 15 devices this year, which aligns with the 90 million iPhone 14 units the company sought from suppliers last year.

Apple strives to maintain its income despite obstacles like continuing inflation and declining customer demand by maintaining production levels and raising prices for higher-end models.

Unnamed sources claim that Apple is attempting to raise its income from iPhone sales via these price changes, even though the precise cost revisions for the iPhone 15 Pro and Pro Max have yet to be made public.

According to recent speculation, the iPhone 15 Pro Max may be the most costly iPhone the tech giant has ever sold, per The Verge.

Apple apparently made minor tweaks to the iPhone order mix as part of its manufacturing plans, resulting in a 2 million decrease in the quantity of its basic iPhone 15 models. This choice concerns issues with the complementary metal-oxide-semiconductor (CMOS) sensor's manufacture.

There have also been rumors of minor display faults with the iPhone 15 Pro, but according to sources, these issues are anticipated to be fixed shortly. They will not have a substantial effect on shipment quantities or timeframes. Apple is reportedly raising its orders for the iPhone 15 Pro models as a retaliatory tactic in reaction to the drop in essential model purchases.

Impacted By Drop in Demand

Sharp drops in demand have been seen in the consumer electronics sector, which includes computers and cell phones, due to rising costs and uncertain economic conditions. Apple and its competitors confront difficult obstacles as the US Federal Reserve gets ready to boost interest rates to fight inflation and China's economy slows down.

Apple's production schedule is followed due to its influence on the electronics sector. Foxconn Technology Group, Samsung Electronics Co., and Taiwan Semiconductor Manufacturing Co. rely on Apple's iPhone business for growth and profitability. In order to direct investor attention to more stable sectors like the App Store, Apple stopped releasing exact shipment data in 2018.

Apple has performed well despite its competitors' struggles. Despite eight consecutive quarters of dropping phone sales, including an 8% dip in the June quarter, Counterpoint Research believes that Apple's market share has climbed to 17% due to growing demand for $600+ smartphones.

Apple's second-quarter growth in new areas like India was 50%, according to Counterpoint analysts.

iPhone Prices in Recent Years

Since 2019, the iPhone Pro and Pro Max versions have started at $999 and $1,099, respectively.

Apple publicly announced that it was keeping the pricing the same for the iPhone 14 range during the 2022 announcement of the iPhone 14 range, according to Apple Insider. However, that was only true for the US and China since prices have significantly increased everywhere else.

Given the evolving dynamics in the global smartphone market, industry analysts and customers alike will watch Apple as it prepares to introduce its iPhone 15 series.