Wedbush Securities analyst Dan Ives says consumers should brace for a major iPhone 14 price increase.
The iPhone 13 family consists of the 5.4 inches iPhone 13 mini which starts at $699, the 6.1 inches iPhone 13 which begins at $799, the 6.1 inches iPhone 13 Pro, the entry-level variant of which costs $999, and the 6.7 inches iPhone 13 Pro Max, which retails for $1,099.
Rumors have it that only the iPhone 14 Pro and iPhone 14 Pro Max will be powered by the new A16 Bionic chip. Reports indicate that chip-making has become a costly business and some Apple suppliers are planning to pass on that cost to the Cupertino giant. Echoing industry sentiments, Ives said that prices have been rising across the supply chain and Apple may pass the costs to consumers.
CCS Insight's Ben Wood believes that although the increasing production and component costs may necessitate a price increase, Apple may still not go forward with it because of the increasing cost of living.
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