Even though Apple releases new features with the baseline iPhone models, their starting price has remained the same for quite some time. For instance, Apple launched the iPhone 12 (64GB) in India for Rs. 79,900. The following year, the company released the iPhone 13, with an increased storage of 128GB, at the same price. Even the iPhone 15 debuted in the country at Rs. 79,900. However, this trend could change with the arrival of the iPhone 16 later this year.
Usually, when a company sticks with the same components (display, camera, battery, chassis, etc.) for several years, their manufacturing cost goes down. This is how Apple has kept the baseline iPhone’s price from increasing. However, as Apple plans to provide several new components with the iPhone 16 series, there’s a good chance we’ll see a price hike in September.
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Factors Contributing To The iPhone 16 Price Hike
Addition Of New Components And Features
The first and foremost factor that could contribute to an increase in the price of the iPhone 16 is the addition of new features. For instance, even the baseline iPhone 16 is touted to ship with several AI-based features. Further, all the models in the lineup will get new A18 chips carefully designed for handling AI workflows. The iPhone 16 Pro and iPhone 16 Pro Max could feature advanced camera systems, along with a thinner and lighter design.
The introduction of so many novelties could force Apple to increase its prices, especially for the Pro models. According to a report by Nikkei Asia, the production cost of the regular iPhone 15 went up by 16%, the iPhone 15 Plus by 10%, the iPhone 15 Pro by 8%, and the iPhone 15 Pro Max by 12%. However, the company only increased the retail price of the iPhone 15 Pro Max by $100.
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Inflation And Adjusted Cost Of Production
The second reason could be inflation, which could indirectly impact the company’s manufacturing costs. Further, we should factor in the fluctuations in currency conversion rates. Since an increase in inflation often leads to the downfall of a currency, the iPhone 16 might cost more in some regions than others.
In 2024, the production costs could go even higher. Hence, we expect the regular iPhone 16 to cost about Rs. 10,000 more than the baseline iPhone 15, while the other models could also follow suit. However, this remains a conjecture as we’ve yet to hear any solid rumors or confirmation from the company.
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