Months before The iPhone 18 range expected by Apple release, Tim Cook, Apple CEO prepares consumers for rising prices.
Cook saidThe Wall Street Journal says “unfortunately, price increases are inevitable,” saying the company has faced rising costs for memory and storage chips used in its products. “We tried to protect our customers from the increases, but the situation became untenable,” Cook told the publication.
Learn more: What is RAMageddon? Why AI is making laptops and phones more expensive
The latest rumors indicate that the iPhone 18 Pro and Pro Max models could arrive as early as September, potentially alongside a rumor: foldable iPhone at a starting cost of over $2,000. For reference, in 2007, a first-generation 8GB iPhone would have cost you as little as $399. (That’s about $637 in 2026 dollars.)
The timing of the alleged launch coincides with John Ternus takes over as CEO of Apple on September 1, as Tim Cook resigns. Cook did not say when the price increases would occur or on which products, but memory and storage chips are used in every Apple device.
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The price rise can be largely linked to AI boom. Like more AI Data Centers are built all over the world, they not only consume huge amounts of water and electricity but also require a huge amount of memory and storage. This has created high demand for the same type of chips used in phones, laptops, smart wearables and other electronic devices. Even though demand is clearly increasing, supply is still struggling to catch up.
Apple is not the only company affected. These higher costs could persist everyday technology products until 2028.
