Apple CEO Says Product Prices Will Rise, iPhone 18 Affected?

Amid a worsening global shortage of memory and storage chips, Apple CEO Tim Cook has said price increases for Apple devices have become unavoidable. Cook revealed this in a recent interview with The Wall Street Journal. He explained that a surge in demand for memory chips from artificial intelligence (AI) companies has created a supply crisis unlike any he has witnessed in his career. “I have never seen anything like this in any field in over 40 years. Unfortunately, price increases are unavoidable,” Cook said, as reported by ABC on Saturday (20/6/2026). Cook’s statement comes ahead of the launch of the iPhone 18 series, scheduled for release later this year. However, Cook did not disclose when the price increases would take effect or which product lines would be affected. “We have tried our utmost to mitigate the impact of the cost increases passed on to us and have so far tried to protect customers from those increases. But this situation is no longer sustainable,” Cook said. Cook, who will step down as Apple CEO on 1 September, said the rise in memory and storage chip prices caused by demand from AI servers has made it difficult for Apple to maintain profit margins. Although he did not reveal the magnitude of the price increases to be applied, technology research firm Techinsights estimates the price of the soon-to-be-launched iPhone 18 Pro could rise by more than 200 US dollars. With this increase, the device’s price is expected to reach around 1,299 US dollars. “Supply is becoming increasingly constrained while consumer device demand remains high and memory manufacturers are imposing very large price increases. We need memory prices and supply to return to reasonable levels for consumer products. That is the crux of the issue,” Cook said. Separately, Apple is reportedly considering a major change to the launch schedule for the next-generation iPhone. According to recent reports from supply chain sources, the standard iPhone 18 could potentially be launched in spring 2026, earlier than Apple’s tradition of introducing new iPhones every September.