The iPhone 16, according to a recent report, could be more expensive than the current models that Apple sells worldwide, and that's because the production cost estimates for the iPhone 15 are considerably higher than those of the iPhone 14 models released last year , setting a record for component prices. This increase could be felt by consumers in the year 2024, when Apple may decide to pass these costs on to customers.
The iPhone 15 Pro Max model has an estimated production cost of $558, 12% more than the iPhone 14 Pro Max model released in 2022. This is the highest amount ever paid for iPhone components. Between 2018 and 2021, total component costs for the "Pro Max" models of Apple's iPhone ranged from $400 to $450. Component costs rose by about 20% in 2022, reaching the current record high of $558.
The telephoto camera on the iPhone 15 Pro Max now costs $30, 380% more than the previous model. The titanium bezel is also priced at $50, 43% more than the stainless steel bezel used on previous devices. The A17 Pro chip is priced at $130, 27% more than the A16 Bionic chip.
The other models in the iPhone 15 range are also affected by the increase in costs. The standard iPhone 15 components cost $423, 16% more compared to the iPhone 14. The iPhone 15 Plus model is estimated at $442, 10% more than its predecessor, while the iPhone 15 Pro has increased by 8% , reaching $523.
Despite the cost increase, Apple has not raised the retail prices of any of its iPhone models this year, choosing to absorb the impact of the additional expenses. The only notable change was the removal of the 128GB Pro Max model, meaning users who would normally purchase the 128GB model now have to pay $100 more to get the device.
Collaborating with Nikkei, Tokyo-based research firm Fomalhaut Techno Solutions believes that if Apple continues to bear the brunt of rising production costs, the company's profits could begin to suffer. As a result, Apple may finally decide to raise the retail prices of iPhones with the launch of the iPhone 16 series next year.
