Report: Apple mulls over price surge for iPhone 15 Pro and Pro Max

Priya Walia

Apple Event November 10

A recent report by Bloomberg suggests that Apple Inc. is reportedly contemplating raising the prices of its forthcoming iPhone 15 Pro and iPhone 15 Pro Max.

The potential increase comes after the iPhone 14 Pro’s launch price stood at $999, with the iPhone 14 Pro Max initially retailing from $1,099. However, the tech titan is expected to maintain the same price point for the lower-end models, the iPhone 15 and iPhone 15 Plus.

Apple seems to be playing a calculated game, aiming for a similar number of iPhone 15 and iPhone 15 Pro Max units as its predecessor, around 85 million, over this year. If these targets are met, and the prices for the Pro models indeed climb, Apple’s overall iPhone revenue is set for a significant boost.

For those investing in AAPL, the company’s shares, this news spells positive expectations. Stable unit shipments imply that Apple predicts strong consumer demand for the iPhone, continuing well into the next cycle. A price bump for Pro models suggests a resilient customer base that is undeterred by rising costs.

Earlier this year, on a quarterly earnings call, Apple CEO Tim Cook hinted at this resilience. He suggested that customers appear willing to ‘stretch’ to afford the best possible version of the iPhone, implying the potential for future price increases.

The CEO said, “I think people are willing to really stretch to get the best they can afford in that category,” likely pointing to discussions around iPhone price hikes.

While this trend might not sit well with some consumers, staunch Apple loyalists, particularly those who prioritize prime technological offerings above cost considerations, are likely to weather these changes without much fuss.

Nonetheless, this approach demonstrates Apple’s continued confidence in the perceived quality of its products, despite potentially higher costs for consumers. Yet, it’s important to note that this prospective rise in prices remains speculative, based on a report. We’ll have to wait until Apple officially unveils the new iPhone 15 Pro and iPhone 15 Pro Max to receive confirmation of these rumored price adjustments.

Whatever the outcome, it’s clear that Apple continues to drive its revenue strategy with an unshakeable belief in the brand’s resilience amid economic and market fluctuations. Only time will tell whether this confidence rides true for both consumers and investors alike.

Via Phone Arena