Cook went on Good Morning America to talk about Apple and its new wave of products (including the Apple Watch Series 4), and the topic of pricing was brought to the forefront. “We want to make an iPhone for everyone. That’s always been our objective,” said Cook, when pressed on the fact that many consumers might be “priced out” when it comes to its new flagships. Cook pointed out the fact that the iPhone range starts at $449 (iPhone 7) for those that want an affordable smartphone, however, it’s worth pointing out that the device is two years old at this point. Apple discontinued the iPhone SE, which started even lower at $349.
He also suggested that the pricing of the new flagships is justified because of the ultra-fast A12 Bionic processors, up to 512GB of internal storage, Gigabit LTE and improved cameras. Cook also pivoted, saying that most people don’t pay the full cost of the phone upfront, and instead pay in monthly installments through their carrier, which helps lessen the financial burden.
“If you look at even at the phone that’s priced over $1,000, most people pay about $30 a month for an iPhone or $1 a day,” Cook explained. “People want the most innovative product available, and it’s not cheap to do that.”
This is what pricing looks like for Apple’s new 2018 iPhones:
- 64GB: $749
- 128GB: $799
- 256GB: $899
- 64GB: $999
- 256GB: $1,149
- 512GB: $1,349
iPhone XS Max
- 64GB: $1,099
- 256GB: $1,249
- 512GB: $1,449
Expect those ASPs to rise even higher now that the iPhone SE has been discontinued and with the new “standard” iPhone XR being priced from $749.