Months ahead of Apple’s expected iPhone 18 lineup release, CEO Tim Cook is preparing consumers for upcoming price increases. Cook told The Wall Street Journal that, “unfortunately, price increases are unavoidable,” citing rising costs for memory and storage chips used across Apple’s product range. “We’ve been trying to shield our customers from the increases, but the situation has become unsustainable,” Cook explained.
The latest rumors suggest the iPhone 18 Pro and Pro Max models could launch as early as September, potentially alongside a rumored foldable iPhone variant priced over $2,000. This follows a pattern similar to the 2007 first-generation iPhone, which started at $399 (approximately $637 in 2026 dollars).
The timing coincides with John Ternus taking over as Apple CEO on Sept. 1, as Tim Cook steps down. While Cook didn’t specify when price increases would occur or which products would be affected, memory and storage chips are integral components across all Apple devices.
The price increases are largely attributed to the AI boom. As global data centers expand to support artificial intelligence, demand has surged for the same memory and storage chips used in smartphones, laptops, and wearable devices. Despite increasing demand, supply remains constrained, creating industry-wide cost pressures that could affect consumer tech products through 2028.
