Apple's iPhone has always been associated with innovation and premium quality. Users have grown to expect improvements that justify the typically costly price tag with each version.
However, a significant shift is underway that calls this trend into question. Apple's Pro series has suffered a little dip in popularity for the first time since 2017, forcing users to look for more affordable options.
This adjustment has not only caught the interest of experts, but it also raises concerns about Apple's pricing strategy's future direction.
Rising Prices and Unchanged Pro Series Pricing
For years, the average selling price (ASP) of iPhones in the US has been steadily increasing, defying inflation and market fluctuations. Yet, the most recent data from research firm CIRP reveals a noteworthy departure from this trajectory.
In the June quarter of 2023, the iPhone's weighted average retail price (US-WARP) experienced a decline, slipping from $988 in the preceding March quarter to $948, 9to5Mac notes. This unexpected change can be attributed to two critical factors: model mix/storage upgrades and Apple's pricing strategy.
A closer examination of Apple's pricing reveals a surprising consistency. The Pro models and their predecessors, such as the iPhone X, have remained untouched since 2017.
Despite economic pressures and evolving buyer preferences, Apple has refrained from raising the price of its Pro series. The implications of this steadfast pricing approach are becoming increasingly evident in user behavior.
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The Public's Shifting Preferences
What truly sets this quarter apart is the shift in consumer preferences impacting the model mix. In the 2022 June quarter, 46% of iPhone sales were accounted for by the iPhone 13 Pro and Pro Max, while the iPhone 13 and 13 Mini comprised 30% of the sales.
Fast forward to the same period in 2023, and we see a distinct change. The iPhone 14 Pro and Pro Max captured 43% of sales, while the base iPhone 14 and 14 Plus models rose to 36%. Though seemingly modest, this shift reflects a subtle yet significant transformation in user buying habits.
Despite the Pro models still leading in popularity, the dynamics have certainly shifted. Last year, the iPhone 13 Pro stood as the best-selling model, commanding 29% of the market.
This year, however, the base model iPhone 14, took the lead with a 24% share, while the Pro and Pro Max variants accounted for 21% and 22%, respectively.
The appeal of the iPhone 14's more affordable starting price of $799 compared to the $999 and $1,099 price tags of the Pro models seems to be driving this change.
What's Next?
The implications of this trend extend beyond a mere change in sales distribution. Apple's forthcoming iPhone 15 series release is expected to continue along this trajectory.
PhoneArena suggests that Apple is bolstering its non-Pro models with advanced features, including a 48MP camera and the 4nm A16 Bionic chipset. This move could tip the scales in favor of the more budget-friendly models.
As the iPhone 15 series is unveiled on September 12, industry observers and enthusiasts are keenly watching how these shifts will unfold in the coming months.
Stay posted here at Tech Times.
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