Apple’s iPhone 15 Pro and Pro Max models could be more expensive

According to a new report by Bloomberg, Apple is allegedly planning to hike the price of its upcoming iPhone 15 Pro and Pro Max models in a bid to increase revenue during a projected slump in smartphone sales.

The publication claims that Apple has a target to produce around 85 million iPhone 15 units this year, which isn’t far off the 90 million iPhone 14 units the company is said to have requested from its suppliers last year. Essentially, Apple is hoping it can produce a similar number of devices but keep its revenue high (in spite of things like ongoing inflation and lower demand for consumer tech) by increasing the price of its more expensive iPhone models, according to “people familiar with the matter.”

Apple is likely facing an uphill battle to hit its targets. The company is reportedly experiencing production issues with the display panels for the iPhone 15 Pro and Pro Max that could impact how many units will actually be available at launch. Apple also allegedly scrapped plans to increase iPhone 14 production by an additional 6 million units last year after the usual surge in holiday season demand failed to materialize. According to an IDC report published back in May, global smartphone shipments are expected to decline by 3.2 percent in 2023, though the market is anticipated to start recovering sometime next year.

For context, iPhone Pro and Pro Max models have launched with a starting price of $999 and $1,099, respectively, since the introduction of the iPhone 11 Pro back in 2019. There’s no information regarding what this price may increase to, though 9to5Mac claims that the standard iPhone 15 and iPhone 15 Plus pricing will remain consistent with previous generational releases ($799 and $899, respectively).

Of course, Apple still needs to sell the iPhones it’s producing to boost revenue, but the company seems confident that this won’t be an issue. Apple CEO Tim Cook suggested during an earnings call in February that a price hike wouldn’t deter iPhone customers from purchasing the company’s flagship offerings, claiming, “I think people are willing to really stretch to get the best they can afford in that category.”