Apple CEO Tim Cook told investors that consumers are willing to spend a lot of money to have the best iPhone possible, implying that even more expensive models may be on the way shortly.
According to Bloomberg, Cook made a casual remark on an earnings call that was primarily about holiday results but could have a big impact on the company’s future.
The CEO was replying to a question on the viability of the rising average selling price of the iPhone. For instance, the top-tier iPhone X with 256 GB of storage, which cost $1,150 in 2017, is now available for $1,600. (the iPhone 14 Pro Max with 1 terabyte).
His answer: “There is no issue with the price hike. In fact, it’s likely that consumers could be convinced to spend more, “He was cited as saying by the source.
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Cook stated that customers are “willing to really stretch to get the best they can get in that area” since the iPhone has become “integral” to their life. Consumers now use the smartphone to make payments, manage their health, control smart home devices, and save banking information, he claims.
Cook presented a compelling argument for why even more upscale iPhones would be beneficial, especially if they had novel features.
Apple has had internal discussions about updating its top-tier iPhone model. It has already taken additional steps to set out its Pro versions from other iPhones and persuade users to spend more.
When the iPhone 15 is unveiled later this year, Apple will use a variety of materials, CPUs, and cameras to further differentiate the product’s tiers.
In order to do this, the Pro Max version must be upgraded by the addition of a periscope lens, which will enhance the optical zoom.
There are rumors that the tech giant will chose to introduce a new Ultra-tier brand in order to further differentiate the Pro and Pro Max.
Both its fashionable, high-end smartwatch and the most sophisticated M1 CPU have already received that distinction from Apple.
Instead of calling the Pro Max “the Ultra,” Apple might instead stack a more expensive iPhone on top of both Pro versions. Internally, the company has discussed doing just that, possibly in time for the iPhone’s release in 2024.
Prices might rise as a result, and customers would need a reason to upgrade. At this moment, it is unknown how that top-of-the-line device would be different, but it probably has better cameras, a faster chip, and perhaps a bigger display.
The charging connector could eventually be eliminated, among other futuristic characteristics.