Apple raises prices on older iPhone models as it introduces the iPhone 18 and first foldable device
Apple has increased the price of existing iPhone models by $100, even as it launched its new iPhone 18 and introduced its first foldable model, the iPhone Duo. The updated pricing now starts at $699 for the iPhone 17e up to $1,099 for the iPhone Air in the U.S., with steeper increases reported internationally like a 20.5% rise in India. Apple also discontinued the iPhone 17 Pro and Pro Max models. This move marks an unusual shift from Apple’s traditional strategy of lowering prices on older devices when new ones are released. The price hike is attributed to rising global costs for memory and storage chips, driven by demand from AI companies and cloud providers. Additionally, Apple may be aligning with competitors like Samsung and Google who have also raised their pricing. Apple's Upgrade program could help mitigate consumer impact by allowing monthly payments on new devices. Former CEO Tim Cook previously indicated that the company can no longer absorb rising component costs, leading to earlier price increases for Macs and iPads.
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