In what is almost certainly Apple’s response to currency fluctuations, the company has introduced iPhone price rises in China and India, and has reduced prices in the UK. Price changes have also been seen in other products, like AirPods.
The price changes do vary between models, however, suggesting that Apple is trying to balance the effect of currency changes with the likely impact on demand …
CNBC spotted the iPhone price rises.
Apple hiked the prices of its latest iPhones in some of its key markets including China, Japan and India, even as it kept prices the same in the US […]
in China, which accounts for nearly 20% of Apple’s total sales, the company raised prices for nearly all of the iPhone 15 models. The base versions of the iPhone 15, iPhone 15 Plus and iPhone 15 Pro Max remained the same. But Chinese customers will pay more for higher storage options. For example, the 512 gigabyte version of the iPhone 15 has risen by 300 Chinese yuan ($41) versus the iPhone 14.
In India, Apple kept prices for all versions of the iPhone 15 and iPhone 15 Plus the same. But it hiked prices for all of the versions of the iPhone 15 Pro and Pro Max. The iPhone 15 Pro in India now starts at 134,900 Indian rupees ($1,627) versus 129,900 rupees for the iPhone 14 Pro — a 5,000 rupee or roughly $60 increase […]
In Japan, Apple raised the price of every model of the iPhone 15
The UK, in contrast, enjoyed price cuts.
In the U.K., Apple reduced the price of all iPhone 15 models versus the iPhone 14. For example, the iPhone 14 started at £849 ($1,059) while the iPhone 15 is £50 less at £799.
One analyst said that Apple has been smart by mostly limiting price increases to the more expensive models.
“Consumers who are buying the premium smartphones are much less price sensitive, not to mention the financing option and trade-in are very well established in these markets,” Nicole Peng, senior vice president at market research firm Canalys, told CNBC.
Trade-ins play an important role in reducing the effective price of a new phone. In my own case, for example, trading in my iPhone 14 Pro Max gets me more than 50% of the cost of the iPhone 15 Pro Max. While Apple’s values are lower than can be obtained elsewhere, it does make for a very slick process.
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