iPhone 16 tipped for worrying price hikes over the iPhone 15

Would you be willing to pay more for the latest iPhone?

When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.

TheiPhone 15may have only just arrived, but new rumors surrounding theiPhone 16line suggest unwelcome price increases could be on the horizon in 2024.

According to a newNikkei Asiareport, the unexpectedly high (and in some cases, record-high) production costs of the iPhone 15 and its siblings could forceAppleto mark up iPhone 16 prices next year.

Per the outlet, theiPhone 15 Pro Maxcosts Apple $558 to produce; a 12% increase over the equivalent production cost of the ‌iPhone 14 Pro Max. The new phone’s telephoto camera, specifically, costs 380% more than its predecessor’s, while the titanium frame on the iPhone 15 Pro Max (andiPhone 15 Pro) likewise costs more to produce than the aluminum used in Apple’siPhone 14 Prophones.

It’s a familiar story for theA17 Prochip. Apple’s new chipset reportedly costs $130 to produce; that’s 27% more than last year’s A16 Bionic. The standard iPhone 15 andiPhone 15 Pluscost more to produce than their predecessors, too, at $423 and $442, respectively.

Despite these increased costs, Apple didn’t increase the retail price of the iPhone 15 line at launch – by and large, prices for all four models remained in line with their iPhone 14 equivalents (Apple did, however, do away with a 128GB Pro Max model this year).

That said, if production costs continue to rise, Apple may be forced to increase iPhone 16 retail prices in a bid to protect its bottom line. In other words, we could be looking at an iPhone 16 that costs in excess of $799 / £799 / AU$1,499 at its most basic, with an iPhone 16 Pro Max (or iPhone 16 Ultra, as it may be called) that starts at more than $1,199 / £1,199 / AU$2,199.

Of course, some of those aforementioned production cost increases are self-imposed on Apple’s part (if you decide to use titanium in your phones, expect them to cost more to produce). But recent months have also seen basic raw material costs skyrocket, and at some point, consumers inevitably shoulder some of that cost.

Get the best Black Friday deals direct to your inbox, plus news, reviews, and more.

Sign up to be the first to know about unmissable Black Friday deals on top tech, plus get all your favorite TechRadar content.

The good news is that Apple’s iPhones are notorious for their longevity, and the iPhone 15 line is no different. Sure, we’ll be excited to report on the likely technological innovations introduced with the iPhone 16 next year, but as usual, you need only invest in Apple’s latest and greatest handsets if you have the money (and desire) to do so.

You might also like

Axel is TechRadar’s UK-based Phones Editor, reporting on everything from the latest Apple developments to newest AI breakthroughs as part of the site’s Mobile Computing vertical. Having previously written for publications including Esquire and FourFourTwo, Axel is well-versed in the applications of technology beyond the desktop, and his coverage extends from general reporting and analysis to in-depth interviews and opinion. 

Axel studied for a degree in English Literature at the University of Warwick before joining TechRadar in 2020, where he then earned an NCTJ qualification as part of the company’s inaugural digital training scheme.

A newly reported iPhone phenomenon could be bad news for both cops and robbers

The iPhone 18 series could include a variable aperture, ‘significantly enhancing’ the camera

Anker Nebula Mars 3 review: A powerful and truly portable projector