Apple yesterday, as expected, released a trio of new iPhone models, a lineup which includes the 6.1-inch iPhone XR, the 5.8-inch iPhone Xs, and the massive iPhone Xs Max. As to how the devices are priced, the entry-level Xr is priced at $749, while the more premium Xs models are priced at $999 and $1099, respectively. Of course, the prices really get crazy if you’re keen on maxing out your storage, with the 512GB model of the iPhone Xs Max boasting a jaw-dropping sticker price of $1,449.
While the entry-level price on the iPhone Xr is a tad higher than some analysts were anticipating, it’s still low enough as to not price out current iPhone owners interested in upgrading. And while the Xs models are certainly expensive, the success of last year’s iPhone X clearly demonstrates that many iPhone users are more than willing to pay a premium for Apple’s more advanced technologies.
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Speaking to Apple’s 2018 pricing strategy, Apple CEO Tim Cook recently explained that Apple overarching goal is to offer iPhone models in a wide range of price points.
“We want to serve everyone,” Cook explained in a somewhat short interview with Nikkei. “We understand that there is a wide range of what customers are looking for and a wide range of prices that people will pay.”
It’s worth noting, though, that Apple yesterday discontinued the iPhone SE, and in turn, did away with its cheapest iPhone option. Recall, the compact iPhone SE retailed for just $349. With Apple’s current iPhone lineup, the cheapest model available is the 2016 iPhone 7 which now starts at $449.
As for the pricey iPhone Xs models, Cook’s answer was on-brand per usual: “We always thought … that if you provide a lot of innovation and a lot of value, there is a segment of people who are willing to pay for it. For us, it’s a large enough group of people that we can make a reasonable business out of it.”
Looking ahead, it will be interesting to see if Apple next year will be able to break its existing iPhone sales record of 231.2 million units which was set back in 2015.