New iPhones set to cost more as chip prices surge: Tim Cook

Apple CEO Tim Cook has indicated that upcoming iPhone models will likely become more expensive, citing a sharp increase in global memory chip prices that the company can no longer absorb without passing some of the cost on to consumers.

Cook said Apple has worked to shield customers from rising production costs, but the continued surge in memory chip prices has made a price increase unavoidable. He added that there is no immediate sign that the supply situation will improve.

Although Apple has not disclosed how much prices will rise, industry analysts expect the increase to affect the iPhone 18 lineup, which is expected to launch later this year. They estimate that memory and storage components for the iPhone 18 Pro could cost around $150 more than those used in the previous generation.

The growing demand for high-performance memory chips, driven largely by the rapid expansion of artificial intelligence technologies, has tightened global supply and increased manufacturing costs. Analysts say Cook's remarks have also weakened earlier expectations that Apple would keep iPhone 18 pricing unchanged.

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