Apple maintains prices on new iPhones despite inflation

CUPERTINO, Calif. (AP) — Apple's latest line-up of iPhones will boast better cameras, faster processors, and a longer-lasting battery — all at the same prices as last year's models, despite inflationary pressure that has driven up the cost of many other everyday items.

That pricing decision, revealed Wednesday during Apple's first in-person product event in three years, came as a mild surprise.

Many analysts predicted Apple would ask its devout fans to pay as much as 15% more to help offset rising costs for many components.

The hoopla surrounding Apple's new iPhone 14 models is part of a post-Labor Day ritual the company has staged annually for more than a decade.

Wednesday's event was held on the company's Cupertino, California, campus at a theatre named after company co-founder Steve Jobs.

After Apple CEO Tim Cook strolled out on stage, most of the event consisted of a pre-recorded video presentation that the company honed during previous events staged during the pandemic.

For several years, Apple's new iPhones have mostly featured incremental upgrades to cameras and battery life, and this year's models were no exception.

Pricing for the standard iPhone 14 will start at $799; the deluxe iPhone 14 Pro Max will start at $1099.

Among the latest improvements is a 48-megapixel camera in the Pro and Pro Max models that the company said will produce especially crisp pictures. The iPhone 13 versions of the Pro and Pro Max have 12-megapixel cameras.

This year's high-end models will also have always-on displays that stay lit even when the device is locked, a feature that has long been available on many smartphones powered by Google's Android software.

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