The iPhone 16 series is set to launch soon and as we get closer to the biggest Apple event of the year, more and more information is surfacing online. This also indicates that the new iPhones are coming soon, with leaks so far claiming that the iPhone 16 could arrive on September 10. Information about the specifications, features, and design has always been surfacing, but what about the price?

While pricing details will be kept under wraps until the official announcement, leaks suggest the iPhone 16 series could see a price hike over previous models. This speculation is fueled by rising production costs, which could force Apple to adjust its pricing strategy to maintain profitability.

A report by Nikkei Asia claimed that the production cost of the iPhone 15 Pro Max was $558, which is 12 per cent higher than the previous model – the iPhone 14 Pro Max. Similarly, component costs for other models like the iPhone 15 Pro increased by 8 per cent. The same story was for the standard models as well, with the iPhone 15 Plus seeing a 10 per cent increase in cost and the iPhone 15 by 16 per cent. Although Apple did not increase the retail prices of the regular models, there is a possibility that the company may decide to sell the 2024 iPhones at higher prices. This is expected to happen especially in the Pro versions.

Apple launched the iPhone 13, iPhone 14, and iPhone 15 at the same prices without any price hike. Leaks suggest that the iPhone 16 series will get minor upgrades in both the Plus and standard models, so Apple may not increase the prices of these models. But, since the iPhone 16 Pro and iPhone 16 Pro Max are said to get an upgraded camera system, better design, new chipset, AI features, and bigger batteries and displays, there is a high possibility that these changes could push the prices further.

According to a report by Economic Daily, Apple may include high-end molded glass lenses in the iPhone 16 Pro models, aimed at making the device lighter, thinner and improving optical zoom capabilities. These premium components are likely to increase the overall cost of the device, making the iPhone 16 Pro and Pro Max more expensive than their predecessors.

If Apple decides to pass on these increased costs to consumers, the iPhone 16 series could see a significant price hike in India. While exact pricing details are speculative, the combination of rising production costs and premium features suggests that Indian consumers will have to be prepared for a higher price tag when the iPhone 16 series finally hits the market.

To recall, the iPhone 15 Pro was priced at Rs 1,34,900 in India and the Pro Max at Rs 1,59,900. So, the iPhone 16 Pro and Pro Max could either be priced the same or Apple could hike the prices by a few thousand rupees to cover the cost of increased components and premium features. Since the company has hiked the prices of the iPhone 15 Pro by Rs 5,000 and the Pro Max by Rs 20,000, it is not expected to announce a major price hike with the launch of the iPhone 16 series. The iPhone 15 went on sale in India at Rs 79,900 for the 128GB storage model and Rs 89,900 for the Plus model. Keep in mind that Apple will also slash the prices of its previous generation models like every year. So, people will be able to buy the iPhone 15 series at a discounted rate.