iPhone 15 Pro Max Price Bump – Apple implemented its long-awaited iPhone price rise as quietly as possible, in an effort to get more money from customers without causing sticker shock.
On Tuesday, the company raised the price of only one iPhone model — the top-end Pro Max, which now costs $1,199 — while leaving the other three new models intact. Even the now-expensive new phone will have double the capacity, allowing Apple to argue that it wasn’t really a price hike at all.
The action is consistent with the company’s need to tread softly with inflation-conscious customers. Apple isn’t changing its prices dramatically, but it is finding new methods for customers to spend more. To entice customers to purchase higher-priced things, Apple is equipping its luxury iPhones with distinctive features such as improved zoom lenses and titanium frames.
Even Apple’s conversion to a USB-C port on the iPhone, which the firm initially resisted, will provide new revenue streams. Customers who want their AirPods to have the same connector as the latest iPhones must pay $249 for a new pair. They can use their previous Lightning charges if they purchase an adaptor from Apple for $29.
According to Evercore ISI analyst Amit Daryanani, some investors had thought that Apple would hike pricing more generally, which is why they reacted coolly to Apple’s iPhone announcement on Tuesday. The stock fell 1.7 percent to $176.30.
However, Apple is dealing with an industry-wide smartphone decline, leaving it less wiggle room to raise prices. According to IDC, worldwide smartphone shipments declined roughly 7% in the fourth quarter, affecting the company’s main source of revenue. Troubles in China, where it faces an expanding government ban and competition from Huawei Technologies’ smart new phone, have only added to the strain.
As a result, Apple will keep the lower-end iPhone 15 at $799, while the entry-level Pro model will remain at $999 – a price that was considered outrageous when the iPhone X launched at that level in 2017.
Though the entry-level Pro Max will be nearly 10% more expensive than the cheapest iPhone 14 Pro Max, it will have 256 gigabytes of storage instead of the previous 128 gigabytes.
Apple did not boost the tiers of its iPhone 15 Pro Max models with more storage, emphasizing the gradual nature of this price rise. The 512 GB version continues at $1,399, while the 1 terabyte version remains at $1,599. Even if prices remain the same, Apple can make better margins since storage costs have decreased.
Outside of the United States, Apple is raising prices more aggressively. The price of the iPhone 15 Pro will climb by $50 in Canada, while the Pro Max will rise by $200. The Pro Max will rise by around 14% in India.
However, prices are falling in certain countries. In the United Kingdom, the iPhone 15 Pro and Pro Max are £100 cheaper than their predecessors.
Aside from iPhone pricing changes, Apple is increasing revenue through new services and accessories. The business introduced two additional storage levels for its iCloud online storage service: a 6-terabyte plan for $30 per month and a 12-terabyte plan for $60 per month. The most expensive iCloud plan was a 2-terabyte option for $10.
Apple’s more aggressive approach is also reflected in the new AirPods. When Apple began offering wireless charging on the iPhone, it allowed AirPods consumers to purchase new cases with the same format rather than forcing them to buy brand new earphones. This time around, it doesn’t include a USB-C standalone case.
Buyers of the iPhone 15 Pro and Pro Max will also require a new cable to achieve the faster data transfer speeds promised by the device. Apple charges $69 for one.
