Apple's upgrade plan aims to offset $1,500 iPhone 18 Pro Max price

Apple is launching a device leasing program called 'Apple Upgrade' in the United States on July 28 to encourage more people to buy its products.

Apple CEO Tim Cook warned that price increases are unavoidable due to AI chip shortages driving up memory and storage chip costs.

The iPhone 18 Pro Max could reach a price of $1,500, and Apple's upgrade plan aims to soften that cost for buyers.

Cook did not specify when or which Apple products will see price increases, but high-end iPhones are expected to get more expensive.

Analysts suggest Apple may delay lower-priced models like the base iPhone and iPhone Air until spring 2027, with possible $100 price increases.