Apple iPhone 15 series could be pricier than its predecessor, as per Wedbush analyst Dan Ives. He told CNBC that the average selling price of the iPhone 15 lineup will touch $925 (~₹76,300). But that isn’t surprising considering the iPhone price trajectory over the years. What’s interesting though is he estimates there is still demand for the new iPhones.
Mr Ives tells there are about 250 million iPhones in the market waiting for an upgrade for the last 4 years. iPhone 15 lineup could satiate this demand.
The expected list of new iPhone 15 series features is also appealing like a USB-C port, a periscope lens camera on the Pro models, and perhaps Dynamic Island for all iPhone models.
Also Read: Everything we know so far about the iPhone 15 series
Apple’s pricing over the years: Business as usual
Well, just in the last quarter, CIRP found the average selling price of iPhones rose to $988. The report highlights how this is against the conventional wisdom to be more value-oriented and hold back since the new iPhones will be there in a matter of few months.
Still, tempting exchange offers nudge some folks in this direction.
The graph has been on the rise for the past several years. For instance, the ASP was $892 in the September quarter and $944 in the December quarter (source: Counterpoint Research).
Some reports suggest the overall ASP was somewhere in the $821 to $873 band in 2021 thanks to demand for iPhone 12 and 13 series.
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For context, the figure was only $690 in late 2015. In two years, this soured to $724. This is notable as it was in 2018 that Apple started focussing more on revenue over volume.
Now it is looking to shift to “lifetime user value,” which refers to the revenue it generates from services and not just iPhones.
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With more new iPhones in the market, the demand for Apple Services could also rise. Ives echoes this by forecasting about $100 billion (~₹8,24,500 crore) in revenue from Apple Services which will be an impressive double-digit growth.
These growth estimates are good for investors and the brand but it may not be for the customers who end up paying more, as they are not shelling out for just the phone now… but also for the services that come with it.