iPhone 14 Pro, iPhone 14 Pro Max just got more expensive? $100 price hike likely

Apple has scheduled the “Far Out” event for September 7 where it will launch the much-anticipated iPhone 14 series along with the Apple Watch 8. According to previous leaks, the price of the iPhone 14 Pro was the exact same as the iPhone 13 Pro. However, a couple of weeks ago, Apple analyst Ming-Chi Kuo tweeted that the average selling price of the whole iPhone 14 range could increase by about 15% over the iPhone 13.

Just last week, a tweet by Dan Ives, an analyst from Wedbush Securities hinted at a $100 price hike. Now, Dan Ives has published an analyst note where he has confirmed that this year’s Pro models of the iPhone 14 are set to receive a $100 price hike.

Ives wrote in the note published in Ped30, “While the base iPhone will stay at the same price, we believe a $100 price increase on the iPhone 14 Pro/Pro Max is likely in store given component price increases as well as added functionality on this new release.”

“Apple is expecting another heavy iPhone Pro and Pro Max mix shift,” he further added.

The iPhone 13 Pro currently starts at $999 for the base 128GB variant. If reports are to be believed, the iPhone 14 Pro could start at $1,099 for the base storage variant. Similarly, the iPhone 14 Pro Max is expected to be priced at $1,199. The base iPhone 14 is expected to start from $799 and the all-new iPhone 14 Max or iPhone 14 Plus, which will replace the outgoing iPhone 13 Mini is expected to be priced at $899.

According to reports, this price increase is due to the rising cost of raw materials. The world was suffering from a semiconductor shortage since the start of the pandemic which has led to more demand than supply.