Even as 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 at Rs 79,900. The following year, the company launched the iPhone 13 with an increased storage of 128GB at the same price.
Even the iPhone 15 launched in the country at Rs 79,900. However, this trend could change with the arrival of the iPhone 16 later this year.
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Usually, when a company sticks with the same components (display, camera, battery, chassis, etc.) for several years, their manufacturing costs go down. This is how Apple has prevented the price of the baseline iPhone from increasing. However, as Apple plans to offer several new components with the iPhone 16 series, there is a good chance that we will see a price hike in September.
Factors contributing to iPhone 16 price hike
Addition of new components and features
The first and foremost factor contributing to the iPhone 16 price hike is the addition of new features. For instance, even the baseline iPhone 16 is said to come with several AI-based features. In addition, all models in the lineup will get new A18 chips carefully designed to handle AI workflows.
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The iPhone 16 Pro and iPhone 16 Pro Max may feature advanced camera systems with a thinner and lighter design.
Introducing so many new products may force Apple to raise its prices, especially for the Pro models. According to a report by Nikkei Asia, the production cost of the regular iPhone 15 has increased 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 has only increased the retail price of the iPhone 15 Pro Max by $100. Inflation and adjusted cost of production
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The other reason could be inflation, which can indirectly affect the company’s manufacturing costs. In addition, we must also take into account fluctuations in currency conversion rates. Since a rise in inflation often leads to a currency collapse, the iPhone 16 could be priced higher in some regions than others.
iPhone 16 cost
In 2024, production costs could be even higher. Hence, we expect the regular iPhone 16 to cost around Rs 10,000 more than the baseline iPhone 15, while other models could do the same. However, this is a guess as we are yet to hear any concrete rumours or confirmation from the company.
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