There has been much talk this year about a possible price increase for the iPhone 15 Pro, especially given reports that the latest iPhones are significantly more expensive to manufacture. But that may not be the case with the iPhone 16. And it may be all because of the iPhone 15.

According to Nikkei Asia, record high component prices are responsible for a 12%, or a total of $558, increase in the manufacturing cost of the iPhone 15 Pro Max. The tetra prism telephoto camera apparently costs $30 by itself, and the new titanium frame costs $50, 43% more than stainless steel. The A17 Pro chipset, on the other hand, costs $130, 27% more than the A16 bionic.

Other iPhone 15 models were not spared from this impact, despite not having so impressive components. At $423, production costs are 16% higher than for the iPhone 14. iPhone 15 Plus and iPhone 15 Pro are $442 and $523, a 10% and 8% price increase, respectively.

However, Nikkei and Tokyo-based research firm Formalhaut Telkno Solutions believe that Apple simply absorbed the costs rather than raising prices across the board. It was clearly worth it to sacrifice a portion of its revenue rather than risk potential sales.

The closest thing to an actual price increase was Apple's discontinuation of the 128GB iPhone 15 Pro Max. Instead, the phone's base model was 256GB and cost $1,199, the same as the iPhone 14 Pro Max's 256GB model.

Unfortunately, Nikkei and Fomalhaut Techno Solutions do not believe that Apple can continue this in the long run. Especially if component prices remain at the record highs Apple experienced during the production of the iPhone 15. iPhone is Apple's flagship product and accounts for over 50% of its revenue in 2022.

A continued decline in the revenue generated by the iPhone would ultimately be bad for Apple's finances. Therefore, if the situation continues as it has, prices will have no choice but to rise. And if we believe this report, that could happen as early as 2024.

Of course, this is only a prediction of what could happen, and at this stage there is no guarantee that it will happen for sure. However, given the sheer number of rumors suggesting a $100 to $200 price increase for the iPhone 15 Pro series this year, the price increase could come sooner than we really want.

We'll just have to wait and see what happens, but in the meantime, you can check out all the latest news and rumors in our iPhone 16 hub.