iPhone 14 can increase in price – Millions of users are ready to upgrade to the iPhone, so Apple can boldly raise the price of smartphones, besides the reason for the cost of components and shipping costs.
Apple is expected to announce the iPhone 14 product line at the event on September 7. One of the issues that users are concerned about today is how much the new generation iPhone will cost.
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Apple customers are notoriously loyal. However, when economic forecasts are turning bleak, it can be difficult to convince users to upgrade their iPhones. “Apple is having a hard time with pricing. In addition to inflation and consumer cost-of-living pressures, it also faces component prices and shipping,” said market analyst Ben Wood of CCS Insight. iPhone increased”.
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Wood predicts iPhone prices will increase but believes Apple will “try to do everything to make the iPhone 14 price as affordable as possible”.
Meanwhile, Wedbush Securities analysts Dan Ives and John Katsingris said that the overpriced components and new features added to the iPhone 14, such as the camera, will make the device about 100 more expensive. USD.
Currently, the iPhone 13 mini and iPhone 13 start at $699 and $799, respectively, while the 13 Pro and 13 Pro Max are $999 and $1,099. This year, the cheapest model is iPhone 14 while the mini version is replaced by iPhone 14 Max. Therefore, if it increases by $ 100, the iPhone 14 will start at $ 899 and the 14 Max will start at $ 999.
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In its financial report for the second quarter of 2022, Apple said it had set a record in both revenue and number of users. “Customers continue to see the iPhone as the gold standard for smartphones,” said Apple CEO Tim Cook. However, steady sales may also be the driving force for the company to boldly increase the price of iPhone 14. Wedbush analysts estimate 240 million out of a billion iPhone users have not upgraded their phones in more than three years. year and a half, indicating strong shopping demand in the coming time.
The new price is considered expensive and difficult to entice users. However, as analyst Ben Wood notes, the iPhone is somewhat isolated from macroeconomic pressures. Compared to other technology devices, consumers are considering smartphones “almost essential”.
“It’s less important that users really need a new iPhone than that Apple’s followers are incredibly loyal. They’re willing to wait and pay just because it’s a new iPhone. This is Apple’s advantage over it. rivals,” he said.