Apple Raises Prices on Older iPhones | Tech News

0:00It's September 9th. I'm Corey with the story and this is Tech News today. Your AI powered tech briefing. So Apple drops some new phones, the iPhone 18 and their first photo bowl, the iPhone Duo. But while everyone's buzzing about the flashy new tech, there's another move they made that's kind of surprising. They're bumping up the price on the iPhones you can already get. Starting now, you'll see existing models costing about $100 more. This means the iPhone 16 is now starting at $799. The 17e at $699, the 17 at 8, $199 and the air model is hitting $1,099. This price jump is even bigger in some places, like India, where it's reportedly gone up by over 20%. They also quietly stopped to making the iPhone 17 Pro and Pro Max. Usually when a new iPhone drops, the older ones get cheaper, right? That's the playbook. But Apple switching it up. This wasn't totally

1:01out of the blue though. People were already talking about potential price hikes because of the global shortage of memory and storage chips. Demand for these parts is through the roof. Thanks to all the big data centers, AI companies and cloud services are building, even Tim Cook, the former CEO, mentioned in an interview last June their rising component costs might force them to change their pricing. He basically said Apple couldn't keep absorbing those higher prices for memory and storage chips forever. Plus, they're probably looking at what rivals like Samsung and Google are doing with their prices and maybe they think their new monthly payment plan can help ease the sting for customers.