Apple is expected to launch the iPhone 16 series in September later this year. The upcoming lineup may include four models — the iPhone 16, iPhone 16 Plus, iPhone 16 Pro and iPhone 16 Pro Max. The starting price of the vanilla iPhone model has remained consistent over the past few years despite getting upgraded features. Each baseline model from the iPhone 12 to the iPhone 15 has been priced at $800 at launch.
Similarly, the Pro devices have also maintained a $1,000 price point.
However, the high-end iPhone 15 Pro Max saw a price hike in 2023, debuting at $1,200 – $100 more than its predecessor. The Cupertino-based tech giant made 256GB the new baseline for the Pro Max model. The latest and most expensive iPhone 15 Pro Max features a periscope lens that offers 5x zoom, a feature which is not available on the iPhone 15 Pro. As per latest rumours, Apple may increase the price of the iPhone 16 models as they may include more expensive components.
Apple may increase the prices of iPhone 16 models
External factors, such as increased production costs, may force Apple to raise prices for its upcoming iPhone 16 lineup. According to Nikkei Asia, the estimated production cost of the iPhone 15 Pro Max was $558, which was a 12% increase over the 14 Pro Max.
The cost of components for other devices in the iPhone 15 lineup were reportedly higher as compared to the models launched in the previous year. The cost of production of the iPhone 15 Pro went up by 8%, the Plus by 10% and the standard model by 16%.
Despite the higher production costs, Apple has not yet raised retail prices. The report suggests that doing so might be necessary, or else “the company’s bottom line will eventually take a hit.”
Meanwhile, rumours about more expensive cameras on the iPhone 16 Pro and Pro Max further suggest that these devices may come with a higher price tag. Another report by the Economic Daily suggests that Apple might use higher-end moulded glass lenses to make its phones lighter and thinner and to increase the optical zoom distance.
These rumours suggest that Apple may feel pressured to pass on these rising costs to customers. However, the higher cost of living is causing many consumers to tighten their budgets, and Apple may not want to distance potential customers who may be planning to upgrade their phones.
On the other hand, contrary rumours have also suggested that prices for the iPhone 16 models may be lower than its predecessors. A tipster on the Chinese social media platform Weibo claimed that Apple might change its manufacturing process for the A17 Bionic chipsets to reduce costs.
This reduction in manufacturing costs could potentially lead to savings for consumers. However, such speculation remains unconfirmed and we have to wait for the exact prices of the iPhone 16 series until Apple makes it official.
