Is your iPhone about to cost an iFortune?
Answer:Â
$675
(from $1,199 to $1,874)
Questions:
- If a phone you wanted increased in price by a few hundred dollars, how would that affect your decision to buy it?
- How do rising prices on popular products like phones affect people’s budgets and spending habits overall?
- Why might a company choose to raise prices instead of absorbing the extra cost themselves?
Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.
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Behind the numbers (CBS News):Â
The iPhone 16 Pro Max 256 GB, which is among the devices that are assembled in China, retails for $1,199. Under the new tariffs on Chinese imports, the price of the device could rise by $675, or 56%, lifting the price tag to $1,874, an April 9 analysts from UBS Investment Research shows.
The cost of an iPhone 16 Pro 128 GB, which is made in India and costs $999, could increase to $1,119, an increase of 12%, the investment bank found.
An April 3 analysis from Rosenblatt Securities found that the Cupertino, California-based company could raise iPhone prices by 43% to offset the effects of reciprocal tariffs.
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About
the Author
Dave Martin
Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master’s degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.
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