Apple has increased the prices of several iPhone models in India following the launch of the iPhone 18 Pro series. The hike applies to both current-generation and older models, with no price cuts announced across the lineup.The base iPhone 17, which was launched at Rs 82,900 for the 256GB variant, is now priced at Rs 99,900. The 512GB variant is priced at Rs 1,24,900.Read more: iPhone 18 Pro and iPhone 18 Pro Max price in India vs US, Canada, Singapore, Dubai: Where is the new iPhone cheapest?The iPhone 17 is available in five finishes — mist blue, sage, lavender, black and white.Apple has also increased the prices of the iPhone 16, iPhone 17e and iPhone Air.The iPhone 17e has received a Rs 15,000 hike, with its price rising from the introductory price of Rs 64,900 to Rs 79,900.The iPhone Air has seen the biggest hike among the models listed. Its price has increased by Rs 30,000, from Rs 1,19,900 to Rs 1,49,900. It is now priced at Rs 1,49,900.The price increase is not limited to older models, with Apple also pricing the new iPhone 18 Pro and iPhone 18 Pro Max higher than earlier generations. The iPhone 18 is around $100 more expensive, partly due to the global memory chip shortage. The iPhone 17 series, meanwhile, ranges from $799 to $1,999 depending on the model.Also Read: iPhone 17 price dropped after iPhone 18 pro launch? Check new prices of older iPhones including iPhone 17 seires and iPhone 16Why did Apple increase prices?Apple’s possible iPhone price hike comes around two months after the company raised prices across several major product categories.The price increases came as Apple and other technology companies face higher costs for memory and other components. The same memory and silicon shortages affecting Apple’s other products are also putting pressure on the iPhone.Apple's Tim Cook in an interview to Wall Street Journal that Apple is planning to raise prices on its products to offset increasing memory and storage chip costs. A surge in AI-driven demand for data centers has forced consumer electronics companies into a fierce competition for dwindling supplies of the key components, driving prices sharply higher.Several companies, including Samsung, are facing a severe memory chip shortage, which is driven primarily by explosive AI data centre demand outstripping supply for all memory types (DRAM, HBM, and NAND). The shortage is already impacting prices of consumer products such as budget mobile handsets, laptops, LED televisions and other appliances. These categories are witnessing price hikes and stock shortages as manufacturers struggle to secure Iadequate supplies of memory components.New iPhone 18 modelsApple on Wednesday unveiled its latest generation of iPhones, including a widely anticipated foldable version called Duo. The iPhone 18 Pro and 18 Pro Max start at Rs 1,64,000 and Rs 1,79,900 respectively.The new models feature a long battery life - 45 hours of video playback for the Pro Max - and faster charging. The camera offers what Apple called "cinematic effects" from regular video captured on the phone, as well as new options for manual controls and "smart focus tracking," which lets users focus on a single moving subject, such as a kid during a soccer game.Apple is also focusing on Siri's new AI capabilities with the new phones, emphasizing privacy and security to stand apart from rivals who are further along in incorporating AI.Earlier this year, Apple unveiled artificial intelligence advances, including upgrades to its Siri assistant, emphasizing a focus on privacy and day-to-day use as the company tries to catch up with rivals on AI.