Apple CEO hints at your next iPhone being more expensive, as “unavoidable” price increases announced

Apple CEO Tim Cook announced that upcoming iPhones and other products will see price increases due to rising memory and storage costs, driven by AI industry demand. Cook stated the increases are "unavoidable" as the company can no longer absorb the higher expenses, with the iPhone 18 series and a foldable iPhone likely affected.

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Read More Table of Contents Apple hardware is getting even more expensive from now on Early Prime Day deals Prime Day is coming — don’t miss the deals Apple has confirmed that its future products will become more expensive as memory shortages continue to impact the tech industry. The announcement comes directly from Apple CEO Tim Cook, who recently explained to The Wall Street Journal that rising memory and storage costs have reached a point where the company can no longer absorb the extra expense on its own. The memory market has been under pressure for months as AI firms purchase huge amounts of advanced memory chips for servers and data centers. As more production capacity is directed toward AI hardware, fewer chips are available for consumer devices such as smartphones, tablets, and laptops. This means higher prices across the industry, and Apple now says it is feeling the squeeze. Sign up for our free, weekly newsletter Subscribe By signing up, you acknowledge our privacy policy and may receive occasional deal communications; you can unsubscribe anytime.Leave this field empty if you’re human: Apple hardware is getting even more expensive from now on While Apple has not revealed exactly when prices will increase or which products will be affected, the statement suggests that upcoming devices could launch with higher price tags than their predecessors. The next big launch is expected to be the iPhone 18 series in September, along with the rumored iPhone Foldable. Early Prime Day deals Prime Day is almost here, and we've found all the best early deals on tech and gaming. AMD Ryzen 7 9800X3D - was $479 now $449 Samsung 32" Odyssey G55C - was $329 now $189 Amazon Kindle Colorsoft Essentials Bundle - was $306.27 now $172.97 Hisense 100" U7 Mini-LED - was $4,499 now $2,797 Skytech Gaming King 95 Gaming PC - was $3,699 now $3,499 Prices correct as of June 18th on Amazon.com. “We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable” “There’s less supply at a time when consumers want devices and the memory guys are passing along huge price increases,” Tim Cook, CEO of Apple, via The Wall Street Journal According to the CEO, who is all set to step down this September to make way for John Ternus, the current SVP of Hardware Engineering at Apple, price increases have become “unavoidable” due to current memory chip pricing. One area of concern is DRAM, which has become increasingly expensive due to growing demand from the AI sector. Apple also pointed to storage chips as another challenge. Modern devices require more memory than ever, especially as companies continue adding new AI-powered features that demand additional resources. Prime Day is coming — don’t miss the deals Get ready for exclusive savings with Prime. Ages 18–24 can get a 6-month Prime trial for $0 Start your Prime trial → The timing of the announcement is interesting because Apple is expected to unveil its next generation of products in the coming months. Many consumers are already looking ahead to the next iPhone lineup, while Mac and iPad buyers could also see changes sooner rather than later. Apple also recently adjusted its Mac Studio and Mac Mini lineup by removing lower-end configurations, resulting in a higher entry price for buyers. Apple is not alone in facing these challenges. Several major technology companies have already introduced price increases on various products as component costs continue to climb. With memory and storage prices showing little sign of returning to normal anytime soon, consumers may need to prepare for more expensive smartphones, tablets, and computers in the months ahead. 878Would you buy a bare bones Steam Machine?Would you buy a variant of the Steam Machine with no RAM and/or no SSD and install them separately to help save on costs? No, I want the Steam Machine to be complete Yes, I would buy a RAM-less version Yes, I would buy an SSD-less version I'd buy a bare bones version with neither component About the Author Abdul Haddi Abdul is a tech writer and Editor for PC Guide, specializing in all things tech, gaming, and hardware. 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