According to PhoneArena , the study found that the average retail price of the iPhone dropped from $988 in Q1 to $948 in Q2. CIRP said that there were two factors that drove this retail price. This seems to stem from things like the economy and the general preference of iPhone 14 buyers, causing consumers to avoid the more expensive iPhone 14 Pro models.
Consumers are more interested in buying the standard iPhone than the Pro version in the second quarter of 2023
In Q2, iPhone 14 Pro models outsold non-Pro models, but the gap between them narrowed. For example, in Q2 2023, the iPhone 14 Pro and 14 Pro Max accounted for 43% of iPhone sales, while the iPhone 14 and 14 Plus accounted for 36%. In Q2 2022, the iPhone 13 Pro and 13 Pro Max accounted for 46% of sales, while the iPhone 13 and 13 mini accounted for 30%.
Looking at the best-selling models in Q2 2023, iPhone buyers may be considering price over features. In Q2 2022, the iPhone 13 Pro Max was the best-selling iPhone, accounting for 29% of all iPhone sales in the US. The best-selling iPhone in Q2 2023 was the iPhone 14, accounting for 24% of sales.
Given the large difference in starting price between the iPhone 14 ($799) and the iPhone 14 Pro Max ($1,099), even a small percentage change could change the average selling price.
In addition, iPhone 14 Plus sales also impacted the average price. Although it was not the best-selling iPhone in Q2, accounting for only 12% of US sales, it was a three-fold increase from the 4% market share achieved by the iPhone 13 mini in the same period last year. It is likely that users who choose the iPhone 14 Plus are motivated by the desire to own an iPhone with a larger screen and impressive battery life.
With this trend in mind, the arrival of the iPhone 15 and 15 Plus models is noteworthy. They are said to come with some impressive improvements such as a 48MP main camera with a stacked CMOS sensor, Dynamic Island, and a powerful 4nm A16 Bionic chip like the iPhone 14 Pro series, which will make them more interesting. However, with some enhanced features on the Pro models as well as an expected price increase of $ 100 - $ 200, it will be interesting to see what the average price of iPhones will be in the coming time.
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