The new Apple iPhone 18 Pro.
Your next iPhone is going to cost you.On Tuesday, Apple announced the new iPhone 18 Pro and Pro Max — with price tags $100 higher than the previous Pro models. It also announced the new foldable iPhone Duo, priced at $1,999. Apple has yet to announce the entry-level iPhone 18.The new models will be available with 256GB, 512GB, 1TB, and 2TB storage capacities. The 2TB version of the Pro model costs $2399, and the Pro Max 2TB phone will run you $2499.Both prices are above those of the 2TB iPhone 17 Pro Max, the previous most expensive iPhone on the market. Both of the top-of-the-line iPhone 18s still pale in comparison to the highest-tier iPhone Duo. The 2TB iPhone Duo will cost $3199.The higher prices illustrate how the global memory shortage has stretched a company as dominant as Apple.In his final earnings call as CEO, Tim Cook said that Apple had "reluctantly raised prices" of iPads and MacBooks due to the memory shortage."We did it because we're in what I would characterize as a 100-year flood on the memory pricing with exponential increases in memory prices," Cook said.The memory shortage is largely driven by the AI revolution as chipmakers shift production away from chips designed for consumer products to the more specialized chips required for the data centers that power AI models.In June, Apple increased the prices of iPads by up to 25% and Mac computers by as much as 20%. At the time, the cost of existing iPhone models remained unchanged.
