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Apple typically releases new iPhones in September. Since 2019, the company has sold a high-end iPhone Pro that starts in the US at $999 and a Max model with a bigger screen for at least $1,099.
Now, Apple’s newest high-end models could reportedly receive a price increase that would boost the company’s overall revenue by increasing the average selling price of a new iPhone.
Apple did not hike prices for new iPhone models in the US during the Covid pandemic, although the company dealt with parts shortages and said that inflation was raising its costs for some services like freight and parts.
Apple, however, does often change prices for its products around the world in response to currency fluctuations, including on last year’s iPhone 14 devices.
Apple didn’t respond to a request for comment.
The new iPhone models could have a USB-C charger, instead of a proprietary Lightning charger, after new European regulations passed last year. The new Pro models could come with a titanium case and thinner bezels, according to supply chain analyst Ming-Chi Kuo.
The price increase could also help Apple take advantage of recent trends in the smartphone industry. Overall smartphone shipments are down and have been around for a year, but consumers still have an appetite for the best and most expensive devices, analysts say.
“While the recovery in global smartphone demand is below expectations, it appears that the premium market (and hence Apple) is less impacted,” Deutsche Bank analyst Sidney Ho wrote in a note Monday.
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