Apple’s next-generation iPhone 15 Pro and iPhone 15 Pro Max will likely be more expensive than previous Pro models, according to Jeff Pu, a tech analyst at Hong Kong-based investment firm Haitong International Securities.
In a research note this week, Pu predicted the iPhone 15 Pro models will see a price increase due to several rumored hardware upgrades, including a titanium frame, solid-state buttons with haptic feedback from extra Taptic Engines, an A17 Bionic chip, increased RAM, a periscope lens for increased optical zoom on the Pro Max model, and more.
This is the second time that a price increase has been rumored for iPhone 15 Pro models, following an unverified claim on Chinese social media website Weibo in January, but whether Apple finally raises pricing for the devices remains to be seen. In the U.S., the Pro model has started at $999 since the iPhone X was released in 2017, while the Pro Max has started at $1,099 since the iPhone XS Max launched the following year.
Outside of the U.S., Apple has increased the prices of iPhones multiple times in recent years, largely due to foreign currency fluctuations. In the U.K., for example, the iPhone 14 Pro starts at £1,099, compared to £949 for the iPhone 13 Pro.
A price increase in the U.S. is plausible given above-average inflation rates. Apple has managed to keep starting prices unchanged for six straight generations of Pro models, but prices will likely have to increase eventually for the company to maintain its profit margins. It’s unclear if the standard iPhone 15 and iPhone 15 Plus would also see a price increase over the iPhone 14 and iPhone 14 Plus, which start at $799 and $899, respectively.
Apple is expected to announce the iPhone 15 series in September as usual. All four devices are rumored to feature a USB-C port, the Dynamic Island, and a slightly more curved frame, while over 10 additional features and changes are rumored for the Pro models.