"Breaking: iPhone 16 Series Production Starts Next Month – Will Apple Increase Prices This Year?"

Production of the iPhone 16 series is set to commence next month. The question arises: will Apple raise prices this year?

The iPhone 16 series is expected to launch in September this year, which is still several months away. However, it appears that Apple has already begun preparations for it. Production for the 2024 iPhones is scheduled to begin in June. There is speculation that the prices of the devices could increase this year.

Currently, it's unclear whether Apple will manufacture its 2024 iPhones in India. However, previous models like the iPhone 12, iPhone 13, iPhone 14, and iPhone 15 have been produced in India. Despite this, there hasn't been a significant reduction in the prices of iPhones to attract Indian buyers. In fact, Apple might opt to raise the prices of its standard iPhone 16 and Plus models, considering the company has maintained the same prices for three generations of devices.

Last year, only the iPhone 15 Pro saw a price increase of approximately Rs 5,000, while the Pro Max's price surged by Rs 20,000, rendering the Pro models even more expensive. Just to recap, the starting price for the iPhone 15 Pro model is Rs 1,34,900, and the Pro Max costs Rs 1,59,900 in India. Additionally, the iPhone 15 is priced at Rs 79,900 for the 128GB storage model, while the Plus model was available for sale at Rs 89,900.

In comparison, the iPhone 14 Pro was launched in 2022 at Rs 1,29,900, while the iPhone 14 Pro Max was priced at Rs 1,39,900. As mentioned earlier, the iPhone 14 Plus and standard models had the same prices as the iPhone 15 variants. This year, Apple is not expected to significantly increase the prices of the iPhone 16 Pro models because it is already selling its 2023 Pro variants at high prices.

However, there is a possibility that the upcoming iPhone 16 series could be more expensive than its predecessors. A recent report from Nikkei Asia highlighted that the production cost of the iPhone 15 Pro Max for Apple is $558 (due to high component costs), marking a 12 percent increase over the iPhone 14 Pro Max. Similar cost increases are anticipated for the iPhone 16 Pro and Pro Max, particularly due to more expensive camera components.

If these production costs continue to rise, Apple may need to raise retail prices to maintain its profit margins. Consequently, the iPhone 16 might start at over $799 (approximately Rs 66,560), with the iPhone 16 Pro Max potentially starting at more than $1,199 (roughly Rs 99,890). However, it's important to note that iPhone prices in India are significantly higher compared to the US market. We will have a clearer picture of pricing as we approach the iPhone 16 launch event or when the new devices are released later this year.