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Apple increased prices on the iPhone 14 and Watch Series 8
Apple increased prices on the iPhone 14 and Watch Series 8
People in many countries may have to pay a lot more to get the latest from Apple.
When Apple announced the iPhone 14 and 14 Pro, it quickly pointed out that the phones start at the same prices as their predecessors, despite rumours that they would cost more this year. Similarly, the Apple Watch Series 8 has received some updates, but it still sells for the same price as the Series 7. However, as CNBC points out, those devices have seen price increases in several other countries, including the UK, Australia, Japan, Ireland and Germany.
In some cases, getting the latest Apple devices will cost a lot more now than last year. In the UK, for example, the iPhone 14 now costs £849, while the 13 started at £779. The Apple Watch is a smaller jump, but it's still more expensive, with the Series 8 starting at £419 vs to £369. In Ireland, the regular iPhone went from €909 to €1,019, with the Pro model going up to €170. I checked prices for France and Italy, two other countries that use the Euro, and the story is similar.
It's worth noting that this means the entry point into Apple's current mainline iPhone is much higher; the Mini is no longer a £100 or Euro cheaper option (although the 13 Mini is still on sale). These price jumps also happen as inflation hits the economy and skyrocketing energy bills squeeze the UK.
Analysts who spoke to CNBC said that Apple raised prices outside of the US because of the dollar's strength compared to other currencies. The yen has fallen about 24 per cent over the past year, and the pound is the weakest in decades against the dollar.
Historically, countries haven't necessarily benefited when their currencies were more potent than the dollar: in August 2021, the pound was worth about $1.40, but the price of the iPhone in the UK was the same as in the US. US: 799. That meant the British were paying the equivalent of about $1,120. The situation was similar in Ireland, where the iPhone 12 was sold for €929, despite the value of the Euro at $1.20.
The current round of price hikes is not universal. The iPhone 14, 14 Pro and Apple Watch Series 8 cost the same as their predecessors in China, and while most devices now cost more in India, the base iPhone 14 costs the same Rs 79,900.00 as the iPhone 13. IDC Analyst Bryan Ma hypothesized to CNBC that Apple was keeping the same prices in China because it's an important market for the company, and he doesn't want to hurt the momentum it's building.
