iPhone 14: Why worth may improve on new iPhones

iPhone 14: Why price could increase on new iPhones

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Apple has some famously loyal customers. Yet as broader economic forecasts get downgraded left and right, it might be a hard time to convince people to upgrade their iPhones.

“Apple faces a real conundrum of pricing,” said Ben Wood, chief analyst at market research firm CCS Insight. On top of inflation and cost-of-living pressures wreaking havoc on consumers, he noted that Apple simultaneously faces rising costs associated with iPhone components and transportation.

“My expectation is that Apple will probably have to nudge prices up,” Wood told CNN Business. But given the strain consumers are facing, he thinks Apple will also do “everything they can to make that as minimal as possible.”

Beyond the broader signals of a worsening economy, Apple is also facing other headwinds as it prepares for the product launch next week. Supply chain hiccups stemming from China’s zero-Covid policy were partly linked to the company’s 11% year-over-year drop in quarterly profits reported last month….

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