Apple is one of the few OEMs that has refrained from raising prices of its smartphones mid-cycle despite the memory shortage crisis plaguing the industry. Even though CEO Tim Cook has said the hike is inevitable, there’s some solace for future iPhone buyers. Apple may not raise iPhone prices as aggressively as some analysts have predicted. However, analyst Max Weinbach, citing a research note from JP Morgan, suggests that the upcoming iPhone 18 Pro and iPhone 18 Pro Max could see price increases of no more than USD 50 (around Rs 4,800), significantly lower than estimates that had pointed to hikes of USD 200 (around Rs 19,000) to USD 300 (around Rs 28,000).
iPhone 18 series expected price hike
Earlier estimates from firms such as TechInsights suggested Apple might need to raise iPhone 18 Pro pricing by as much as USD 270 to maintain its profit margins. The Wall Street Journal arrived at a similar conclusion, projecting that the iPhone 18 Pro could start at USD 1,399 (around Rs 1.32 lakh) or higher compared to the USD 1,099 (around Rs 1.03 lakh) starting price of the iPhone 17 Pro.
Demand for AI infrastructure has surged over the past two years, prompting memory manufacturers such as Samsung, Micron and SK Hynix to prioritise high-margin AI-focused products like High-Bandwidth Memory (HBM) and advanced server DRAM. That has reduced the supply of memory and storage chips used in smartphones, pushing component costs higher across the industry.
However, JP Morgan believes Apple may absorb much of that pressure rather than passing it directly to consumers. According to the firm’s analysts, the company is expected to look for savings elsewhere, including greater use of in-house technologies such as its C-series modem platform.
If the prediction proves accurate, Apple would be following a familiar strategy. The company has historically been cautious about major iPhone price increases, preferring to preserve volume and upgrade momentum rather than maximise short-term margins. The last notable pricing change came with the iPhone 15 Pro Max in 2023. While the starting price increased by USD 100, Apple simultaneously doubled the base storage from 128GB to 256GB, effectively offsetting much of the increase.
Apple is expected to unveil the iPhone 18 Pro lineup this September, alongside the long-rumoured foldable iPhone Ultra. For buyers considering an upgrade, the latest report is encouraging. A modest USD 50 increase would likely be easier to justify if Apple delivers meaningful upgrades in areas such as AI features, cameras, battery life and performance.
