Apple enthusiasts and tech enthusiasts, alike, are eagerly anticipating the release of the 2023 iPhone series. However, there is a twist that may concern potential buyers: Wall Street analyst Dan Ives predicts that Apple might increase the prices of the Pro models by up to $200.
Ives has a track record of accurate predictions regarding Apple’s pricing strategy. Last year, he correctly predicted a price hike for the iPhone 14 series. During a session with CNBC, Ives suggested that Apple may follow a similar strategy with the iPhone 15 series. Although he did not provide specific details about individual model prices, he mentioned that the company plans to raise the average selling prices (ASPs) of iPhones in the US.
Price Hike Likely to Affect Pro Models
It is anticipated that the price hike will primarily affect the Pro models, potentially resulting in a $200 increase for the iPhone 15 Pro and iPhone 15 Pro Max. As a point of reference, the current iPhone 14 series starts at $799 for the base model of the iPhone 14, $899 for the iPhone 14 Plus, $999 for the iPhone 14 Pro, and $1,099 for the iPhone 14 Pro Max. If the expected price hike comes to fruition, the iPhone 15 Pro may have a starting price of around $1,199, while the Pro Max model could be priced at approximately $1,299.
Price Increase Could Boost Apple’s Valuation
Experts suggests that this price increase is part of Apple’s strategy to boost its valuation. The tech giant aims to increase its current valuation of $2.85 trillion to an estimated $3.5 trillion to $4 trillion within the next 18 to 24 months. This valuation expansion aligns with Apple’s vision of capitalizing on the potential market opportunity presented by the approximately 250 million iPhone users who have not upgraded their devices in the past four years.
Apple May Ship Up to 240 Million iPhone 15 Units in 2023
According to predictions, Apple may ship between 235 million and 240 million units of the iPhone 15 in 2023. This estimate highlights the immense popularity and demand that Apple’s flagship smartphones continue to enjoy.
Consumers and Fans to Watch Pricing Strategy Closely
As Apple prepares to unveil its highly anticipated iPhone 15 series, consumers and fans will be closely watching to see how the pricing strategy unfolds. While a price increase may concern some potential buyers, Apple’s loyal customer base and the perception of value associated with its products have traditionally supported the company’s pricing decisions. Ultimately, the market will determine how successful this strategy will be for Apple as it strives to maintain its position as a leading innovator in the smartphone industry.
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