Next-Gen iPhone Incoming: Is Your Wallet Ready for the Price Tag?

By: Insha Hashmi

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Updated on: 18-May-2024

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Apple plans to begin manufacture of the iPhone 16 series in June 2024, a month earlier than the August production of the iPhone 15. The ordinary iPhone 16 models may see larger manufacturing quantities than the premium ones, adding to the hype surrounding the rumored debut date.

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Apple has not announced if the iPhone 16 series would be built in India, but prior iPhone models have been made there. Rumors say that Apple may boost pricing for the regular iPhone 16 and Plus models, potentially breaking their three-generation price stability. Analysts expect minor price increases for iPhone 16 Pro models in 2023, owing to Apple's high costs for the iPhone 14 Pro and Pro Max.

Apple's iPhone 16 series production in India has not resulted in cheaper pricing for Indian consumers, with rumours circulating that the corporation may hike prices for the regular iPhone 16 and Plus models, potentially breaking the three-generation price stability.

Analysts expect minor price increases for iPhone 16 Pro models because of Apple's high-priced 2023 Pro versions, the iPhone 14 Pro and Pro Max. However, increased component prices may result in price hikes, as the iPhone 15 Pro Max costs $558 to create, a 12% increase over the iPhone 14 Pro Max. Similar price increases are predicted for the iPhone 16 Pro and Pro Max.

According to Nikkei Asia, Apple may boost pricing in India for both ordinary and Pro iPhone 16 models to offset growing production costs. The iPhone 15 Pro Max costs $558 to build, which is a 12% increase over the iPhone 14 Pro Max. The iPhone 16 Pro and Pro Max are likely to have similar price increases because of higher-cost camera components. If production costs continue to climb, Apple may have to increase retail prices to preserve profit margins. The iPhone 16 may start at more than $799, with the iPhone 16 Pro Max possibly starting at more than $1,199.

Conclusion:

Apple's iPhone 16 product is set to commence in June 2024, raising enterprises about implicit price hikes. Analysts suggest that Apple may elevate prices for the standard iPhone 16 and Plus models due to rising product costs, as seen in the 12 increase in iPhone 15 Pro Max product costs compared to its precursor. The iPhone 16 Pro models are anticipated to see minimum price increases, probably due to their high price points established with the iPhone 14 Pro and Pro Max launches in 2023. Estimates suggest the iPhone 16 could start at over$ 799, while the iPhone 16 Pro Max could start at further than$ 1,199. Indian iPhone prices are generally advanced than US prices.