iPhone 15 release set to promise upgrades at steeper prices, analysts say
Written by ABC AUDIO on September 12, 2023
(NEW YORK) — Apple is set to release a new iPhone 15 model on Tuesday that delivers upgrades but also increased prices for some versions, analysts say. Fresh versions of the Apple Watch and AirPods are also expected to be unveiled.
The company’s latest smartphone is expected to feature an improved camera and a USB-C charging port, Bloomberg reported.
The top-end models of the iPhone 15, however, could deliver a sizable markup, Barclays analyst Tim Long said in a research note reviewed by ABC News.
The prices of the standard iPhone 15 and iPhone 15 Plus will remain unchanged, Long said.
But the price of the iPhone 15 Pro will rise as much as $100, bringing the total to $1,099; while the iPhone 15 Pro Max will jump as much as $200, catapulting its overall price to $1,299, Long added.
The pricier versions of the iPhone 15 will boast expanded storage, additional battery life, quicker data-transfer speeds and titanium frames, Long said, as the tech giant hopes to drive consumers toward the more expensive options.
The Pro models, Long added, will also run on the new A17 Bionic chipset processor.
All four versions of the iPhone 15 are expected to include the USB-C charging port, offering flexibility for consumers who seek to power their smartphone with a charger that also supports non-Apple products, Long said.
For the first time, the full set of iPhone models will also feature the Dynamic Island, a section at the top of the display that delivers alerts or progress updates, Long added.
Last year the company released the iPhone 14, featuring a Pro model that debuted the Dynamic Island as well as a 48-megapixel camera.
The product release event will take place at 1 p.m. ET on Tuesday, and can be viewed online at the Apple website. The iPhone 15 will go on sale around Sept. 22, Bloomberg reported.
On an earnings call, in February, Apple CEO Tim Cook said the company retains the ability to raise the price of the iPhone because it has become such a fixture of consumers’ daily routines. For instance, users store health and banking information on their smartphone and even use it as a payment tool, Cook said.
“The iPhone has become so integral into people’s lives,” Cook said. “So I think people are willing to really stretch to get the best they can afford in that category.”
The iPhone 15 announcement arrives as Apple faces a prolonged iPhone sales slump, however.
iPhone revenue fell 2.4% over three months ending in June, compared to the same period a year prior, Apple’s most recent earnings report showed. The results marked the third consecutive quarter of sliding iPhone sales.
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