Apple Inc. Chief Executive Officer Tim Cook has hinted at the possibility of new high-ender, pricey iPhones in the future.
What was said?
As reported by Bloomberg’s Mark Gurman, Cook spoke to investors about Apple’s sales figures over the recent holiday period. However, his comment about the price of the iPhone range caused speculation about future phones. Investors asked Cook if the annual rise in the cost of the flagship iPhone was sustainable. For example, in 2017, the iPhone X cost $1,150, but the 1 TB iPhone 14 Pro Max now costs $1,600. Cook said the price increases weren’t a problem and that Apple could persuade consumers to spend more.
What did he mean?
Cook said, “I think people are willing to really stretch to get the best they can afford in that category.” He also said that the iPhone had become “integral” to consumers who use smartphones for more than just making calls. Many people now use their iPhones to control smart-home devices, carry out banking transactions and even monitor their health. As such, Cook argued that future high-end iPhones, with even more features, would appeal to the public.
Apple’s working to boost the iPhone 15 Pro and Pro Max smartphones’ specs so that the company can justify the extra cost over standard models. For example, the iPhone 15 Pro Max will have a periscope zoom lens, which should improve video and photo image quality. Rumors claim that internal discussions have taken place at Apple about introducing a new high-end iPhone in 2024. The company currently uses the Ultra suffix for its top-of-the-range smartwatch and M1 computer processor.
What we think
A simple comment by Tim Cook has caused a lot of excitement and speculation about what future high-end iPhones might come to market. There isn’t much evidence that development has started yet, but Apple clearly thinks that the public has the appetite for even more expensive iPhones. It will be interesting to see what new features the company will add to the new flagship smartphones to justify their prices. One thing is for sure: They won’t be cheap.