How Much Will the iPhone 16 Cost? Here’s What We Expect

TMI Newsdesk
5 Min Read

Beyond all the flashy presentations on camera specs and battery capacity, one of the most important questions looming over any new phone unveiling is how much will it cost? Months ahead of the anticipated iPhone 16 announcement, that question is already being raised and speculated about.

Rumors abound regarding the next generation of Apple’s No. 1 earner, which is expected to be called the iPhone 16. That includes guesses about the phone’s appearance, screen size and upcoming AI features. While the device isn’t expected to be released until the fall, those hoping to upgrade might be eager to start budgeting right now, especially since flagship iPhones are priced in the premium range. So, how big a price tag could we be looking at?

Read more: The Features We’re Expecting From Apple’s Next iPhone

Despite upgraded features, the starting price of the baseline iPhone has remained consistent over the last several years. Every baseline model between the iPhone 12 and 15 has been priced at $799 upon its release in the US. The Pro devices have also remained at $999 across that timeline. 

A price hike occurred on the high-end iPhone 15 Pro Max last year, which was retailed at $1,199, $100 more than its predecessors. Apple did away with its lowest 128GB storage option, making 256GB the new (pricier) baseline. The 15 Pro Max also touts a periscope lens, which offers 5x zoom that isn’t found even on the smaller 15 Pro.

Watch this: Latest iOS 18 Rumor Roundup: New Designs, AI Tricks

As inflation raises prices for nearly everything else, and rumors suggest new iPhones get pricier parts, it’s uncertain whether Apple can resist bumping up the price tags for its flagship phones. Here’s what we’ve heard.

Components and cameras: iPhone 16 price hike culprits 

External factors like higher production costs could potentially push Apple to raise prices on its upcoming lineup. According to Nikkei Asia, the estimated production cost of the iPhone 15 Pro Max was $558, a 12% increase over the 14 Pro Max. The cost of components for other devices in the iPhone 15 lineup also reportedly grew compared to the previous year: the 15 Pro by 8%, the Plus by 10% and the standard by 16%. While Apple hasn’t yet increased retail prices as a result, Nikkei Asia suggests it would need to do so, or “the company’s bottom line will eventually take a hit.”

Rumors about pricier cameras on the iPhone 16 Pro and Pro Max further suggest those devices may carry a higher price tag, too. According to Economic Daily, Apple might use higher-end molded glass lenses to make its phones lighter and thinner and to increase optical zoom distance. 

On the one hand, Apple may feel compelled to push those rising costs onto its customers. On the other hand, the higher cost of living is leading many consumers to tighten their purse strings, and Apple may not want to isolate prospective candidates for phone upgrades. 

Other rumors have suggested prices could actually drop for the iPhone 16, according to one tipster, because Apple could switch up the way it makes its A17 Bionic chipsets to reduce costs. That reduced manufacturing cost could potentially pass savings down to consumers, but that’s speculation. 

So, what does all this ultimately mean for iPhone 16 prices? It’s possible, given rising production costs and more advanced components, that we’ll see price increases across the upcoming lineup, although it’s not clear just how much. It’s so early on that it’s just as plausible to assume prices could remain stagnant. In the meantime, we’ll keep updating this with any new details in the lead-up to Apple’s anticipated fall unveiling of its forthcoming lineup. 

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