Apple Inc. is weighing raising prices for the iPhone lineup coming out later this year, the Wall Street Journal said, citing people familiar with the matter whom it didn’t identify.
The company is considering whether to “couple” price increases with new features and designs, while trying to avoid the perception that any hikes are tied to U.S. tariffs on China, the Journal reported. A representative for Apple didn’t immediately respond to Bloomberg’s request for comment.
The company hasn’t increased the starting price of its flagship iPhone model since it debuted the iPhone X in 2017 — keeping it at US$999. Still, U.S. President Donald Trump’s tariffs have hit Apple’s production hubs, namely China, significantly increasing costs for making the smartphones.
The U.S. and China have reached a temporary agreement to lower tariffs, with the U.S. reducing levies on Chinese imports to 30% from 145%. Even so, they’ll eat into profits. Apple Chief Executive Officer Tim Cook said during its earnings call that it could incur costs of about $900 million this quarter due to tariffs.
Cook had successfully lobbied Trump during his first administration to exempt some of the company’s products from tariffs.
High-end phones, including the Pro and Pro Max models, will be produced in China, even as Apple builds up capacity in Indian factories, the newspaper reported. Apple is seeking to import most of the iPhones it sells in the U.S. from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions, Bloomberg News has reported.
With assistance from Mark Bergen.
Amy Thomson, Bloomberg News
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