Apple Considers iPhone 15 Pro Price Increases: Report
Despite bleak global economic conditions of 2023, Apple is determined to maintain its iPhone production levels, say sources speaking to Bloomberg.
Apple reportedly requested suppliers to churn out about 85 million units of its iPhone 15 this year, undeterred by anticipated market slowdowns such as declines in the smartphone market.
Matching last year’s production goals, Apple’s aim is to keep shipments stable in the face of economic uncertainty. Apple is considering hiking the price for its Pro models, said the unnamed insiders, which would help increase revenue.
This year wasn’t without hitches, as Apple had to cut back its forecast for entry-level phones due to problems with CMOS image sensors. However, the setback was neutralized by a rise in orders for the pricier Pro models, according to sources.
A slight issue cropped up with the new iPhone screens, but sources confirm this problem should be rectified within a couple of weeks, causing no significant disruption to the overall production.
Apple’s target of 85 million units this year is marginally lower than the initial 90 million units aimed at in previous years. Yet, previous goals were missed due to a chip scarcity in 2021 and extended COVID-19 restrictions hindering production in China in 2022.
In a market where many Android-based smartphone companies struggle, Apple’s steady approach is tried, tested and true. Although iPhone sales fell by a modest 2% in the recent quarter, market share rose to 17%, driven by the enduring demand for phones with a $600 or higher price tag.
Apple has capitalized on this trend towards “premiumization”, making impressive strides in markets not typically considered its stronghold. India is a prime example, where Apple’s sales have grown an incredible 50% year-on-year in Q2 2023, according to Counterpoint analysts.
Currently, an iPhone 14 Pro starts at $1,399 and iPhone 14 Pro Max starts at $1,549 in Canada. How much more are you willing to pay for the latest iPhone that has barely changed over the past few years?