iPhone 15 leaks have already revealed many of Apple’s biggest design changes, but concerns are growing that the company will also increase prices. And now, a leading industry voice has confirmed those fears.
Wedbush Analyst Dan Ives Reveals Price Hike
In a new research note seen by Barron’s, prominent Wedbush analyst Dan Ives revealed that the iPhone 15 range will indeed be more expensive than current models. Ives subsequently appeared on CNBC and reiterated that the average selling price (ASP) for next-gen iPhones will increase.
Ives’ Track Record
Ives has a strong track record here, having previously warned of iPhone 14 price rises internationally, something Apple subsequently did, but US customers were spared the same increases. That is expected to change with the iPhone 15 lineup though, with multiple analysts and insiders claiming price rises of up to $200, particularly for iPhone 15 Pro and Pro Max models.
No Specific Figure Provided
Ives has not provided a specific figure, but he is (by far) the biggest name to add weight to these price hike claims. While US buyers will understandably be concerned about this, potentially the biggest shock will be for international customers who could be facing their second successive major price increase.
Ives Remains Bullish on Apple
Despite this, Ives remains bullish on Apple, raising his 12-month stock target to $220 from $205. Ives believes the iPhone 15 cycle could be a “trophy case” moment for the company, shifting 235-240M units, after his research revealed approximately 250M iPhones have not been upgraded in over four years, creating a huge backlog of potential buyers.
Modest Improvements in iPhone 15 Lineup
Whether Apple has done enough with the iPhone 15 lineup to drive this number of sales remains to be seen. While widespread leaks point to the iPhone 15 and iPhone 15 Plus updating their designs and iPhone 15 Pro and Pro Max models adding faster processors, improved cameras, an ‘Action Button,’ as well as a range-wide transition to USB-C, the overall improvements are modest.
Early iPhone 16 Leaks Point to More Ambitious Smartphones
Moreover, early iPhone 16 leaks point to significantly more ambitious smartphones, with one influential leaker going as far as to actively discourage iPhone 15 upgrades. Combine this with price hikes, and Apple’s famously loyal customers are going to be put to the test this year.
Update: Trusted Source Expects Price Increase
06/12 Update: I have been contacted by a trusted source who also expects Apple to increase iPhone 15 prices. While Ives states that the average selling price (ASP) for next-gen iPhones will be higher, my source claims that in the US, this is likely to be via hikes to the iPhone 15 Pro and Pro Max, rather than standard models.
Likely Price Breakdown
Unlike earlier leaks, which claimed increases of up to $200, my source claims that a $100 rise is more likely with Apple currently undecided whether to raise the cost of the iPhone 15 and iPhone 15 Plus. If correct, this would result in the following price breakdown:
- iPhone 15 – $799
- iPhone 15 Plus – $899
- iPhone 15 Pro – $1,099
- iPhone 15 Pro Max – $1,199
The wider gap between Pro and non-Pro prices would make a lot of sense, given the standard models are increasingly based on the Pro versions from the year before. For example, the iPhone 15 and iPhone 15 Plus will adopt the same design and chipset as the iPhone 14 Pro and iPhone 14 Pro Max. In contrast, the iPhone 15 Pro and Pro Max will receive an updated design, next-gen chipset and upgraded cameras.