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Apple may increase the prices on its upcoming iPhone 14 Pro models, though it isn’t clear how much more expensive they’ll be, according to TF Securities analyst Ming-Chi Kuo.
In a tweet on Wednesday, Kuo said that Foxconn would be “one of the winners” of a bump in the average selling price (ASP) of the upcoming lineup.
The analyst believes that the ASP for the iPhone 14 and iPhone 14 Pro lineups would increase about 15% year-over-year to $1,000 to $1,050 compared to the iPhone 13 series.
Hon Hai/Foxconn is one of the winners of the increased ASP of iPhone 14 series. I estimated iPhone 14 series ASP would increase by about 15% (vs. iPhone 13 series ASP) to $1,000-1,050 (USD) due to two iPhone 14 Pro’s price hikes & higher shipment proportion. https://t.co/UgiW0kom4F
— (Ming-Chi Kuo) (@mingchikuo) August 10, 2022
He said that the ASP for the entire 2022 iPhone lineup will rise because of price hikes on the two iPhone 14 Pro models, as well as higher shipment proportions compared to past lineups.
Kuo’s tweet came in response to a Foxconn announcement that it is raising its yearly performance expectations from “roughly flat” to “growing.” As a key Apple supply partner, Kuo said that Foxconn will benefit significantly from the iPhone 14 ASP bump.
Current iPhone 13 Pro models tart at $999 for the 6.1-inch variant and $1,099 for the 6.7-inch iPhone 13 Pro Max.
Apple’s iPhone 14 Pro models are expected to sport an upgraded A16 chipset, new hole punch and pill-shaped camera cutouts, an always-on display, and more.