The average price of an iPhone sold in the US in the March 2023 quarter hit a new high of $988, according to a report from CIRP.
Typically, the average price of an iPhone sold in the US declines in the March quarter, following an initial sales boom propelled by early adopters who upgrade to premium models in September and holiday season buyers in December.
The curious exception to the traditional trend is attributed to the iPhone 14 Pro and Pro being the most popular models for 2023, customers upgrading to higher storage capacities, and customers opting for the higher-cost iPhone 14 or iPhone 14 Plus models with a lower-cost “mini” iPhone being absent from the lineup altogether. Also, according to the report, iPhone buyers appear to benefit from high trade-in values, which allow their existing iPhone to act as a subsidy for a new iPhone.
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The news comes just one day ahead of Apple’s Q2 2023 Earnings Call scheduled for Thursday, May 4, 2023, at 2:00 p.m. PT / 5:00 p.m. ET. Be sure to visit our website for up-to-date coverage of the results.
