In a move that has surprised some analysts, Apple has announced that it plans to leave the pricing on its new iPhone 15 largely unchanged.
Apple said that the iPhone 15, which will be available to consumers on September 22, will not have higher prices on most models, reflecting the reality of a global slump in smartphone sales.
The base model iPhone 15 will cost $799 U.S., while the iPhone 15 Plus will have a starting price of at $899 U.S. and the Pro series will price starting at $999 U.S.
Only the iPhone Pro Max is getting a price increase to $1,199 U.S., up from $1,099 U.S. charged on last year’s model.
Apple relies on the iPhone for more than half of its annual revenue, but the global smartphone market has been in decline.
Consequently, Apple’s iPhone shipments in this year’s second quarter decreased to 45.3 million units from 46.5 million phones a year earlier.
Notable changes to the iPhone 15 announced by Apple include a new titanium shell, a faster microchip processor, and improved video game playing abilities, as well as a new USB-C charging system.
Both the Pro and other iPhone 15 models will have a brighter display and a 48-megapixel camera as well as 100% recycled cobalt in their batteries.
Apple also introduced new smart watches, including a Series 9 Watch with a feature called “double tap” that allows users to tap thumb and finger together twice, without touching the watch, to perform tasks like answering a phone call.
Apple’s stock has increased 15% in the last 12 months to trade at $176.30 U.S. per share.