👉 Background: Apple is known for its slick tech products like the iPhone, the MacBook, and once upon a time, the iPod. Now, they've announced the launch of their latest product range — the iPhone 15 series, as well as the Apple Watch Series 9.

👉 What happened: The new iPhone 15 doesn't come cheap. The base model starts at a price of $1,499 and the Pro Max model starts at $2,199. Both of these are a higher starting price than last year's iPhone 14 Pro.

👉 What else: To make matters worse, Apple is also scrapping the lower-priced 128 gigabyte model from the range altogether. So, it looks like Apple's nudging people into paying more for their iPhones.

What's the key learning?

💡The divide between Apple's base models and Pro models is growing and it's all part of Apple's pricing strategy.

💡While the standard iPhone 15 just comes with regular updates, the Pro Max has a bunch of advanced features: we're talking about a swanky titanium case, brand new camera system, and a new chip.

💡So by introducing more advanced features in the Pro model only, Apple is likely trying to drive up their average sales price. And this isn't a new strategy. In fact, since 2019, Apple's boosted iPhone revenue by over 44% despite shipments only going up by 15%.

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