Apple, an American multinational technology company, is planning to increase the iPhone 15 Pro and Pro Max prices. The current price of the iPhone 14 Pro starts from $999, approximately 331,900/- PKR and iPhone 14 Pro Max starts at $1,099, about 554,999/- PKR. At the same time, the price of the lower-end iPhone 15 and 15 Plus would remain the same.
According to the reports, ‘unnamed people familiar with the matter’ says that despite facing the sales decline in smartphones, Apple is planning to increase its revenues by increasing the prices of its two iPhone 15 Pro models.
One of the reports says, “The Cupertino, California-based company is aiming to hold shipments steady despite tumult in the global economy and a projected decline in the overall smartphone market. It’s likely to increase revenue overall because Apple is considering raising the price for Pro models, said the people, asking not to be named because the targets aren’t public.”
As we know, the current financial situation around the globe made things worst. People are interested in something other than buying brand-new iPhones. But Apple considers that the high-end models aim to target customers who can easily afford it.
In March, Jeff Pu, a tech analyst at Hong Kong-based investment firm Baiting International Securities, also confirmed that the price increase is coming. The prevailing news states that Apple is planning to increase its revenue and is ready to ship the same number of iPhone 15 units as iPhone 14 with a target to achieve 85 million this year. The price jump would help the company to gain handsome revenue by increasing the prices for the Pro models.
The decision will help motivate AAPL investors and eventually increase consumer demand for iPhone to remain strong through the next turn. On the other hand, the price jump is also expected to suggest resilient consumer demand.
Tim Cook, CEO of Apple, suggests that customers are willing to splash out to get the best iPhone possible.’ In addition, he also stated, “I think people are willing to stretch to get the best they can afford in that category.”
According to the latest news, all iPhone features a USB-C port instead of the lightning connector. The dynamic island cutout design, first used in iPhone 14 Pro series last year, will replace the notch on the base model iPhone 15 and iPhone 15 Plus.
The company is constantly working to produce high-tech mobile sets with advanced features. People will experience a new titanium chassis and the latest-generation A-17 chip based on a 3-nanometer production process. The device has a multi-function button that will replace the mute switch. Same as the Action button seen on the Apple Watch.
In addition, the iPhone 15 Pro Max features a new Periscope lens on the rear camera module, enabling a wide optical zoom range.
However, the Pro models are sleek and advanced, and feature the thinnest display bezels. The news previously unveiled reported that the slim border design was creating production problems, resulting in supply shortages in the launch.