Apple raises iPhone prices as memory shortage drives costs up

Apple has announced the release of the new iPhone 18 Pro and Pro Max models, with a notable price increase of $100 compared to the previous iPhone 17 Pro models. This move is attributed to the global memory shortage, a challenge faced by various tech companies. The top-tier iPhone 18 models come with storage options of 256GB, 512GB, 1TB, and 2TB, priced at $2399 and $2499 respectively, which surpass the previous most expensive iPhone 17 Pro Max's 2TB variant.

However, the iPhone Duo, a foldable model, is priced significantly higher at $3199 for a 2TB configuration. Apple's CEO, Tim Cook, acknowledged the company's reluctance to raise prices due to the exponential rise in memory costs during a 100-year memory pricing flood. Other tech giants, including Samsung and Google, have also increased prices on their devices due to the soaring memory costs.

The new iPhones will be available for preorder starting September 12 and go on sale on September 18.