Apple reportedly plans to hike prices of upcoming iPhones

Apple is planning to increase the prices of its iPhone lineup set to launch this autumn, though it is trying not to make it seem as if the hikes are connected to the U.S.’ tariffs on imports from China, The Wall Street Journal reported, citing anonymous sources. The company is considering instead linking the price hikes to other developments, which might include new features and designs, the report said, citing anonymous supply chain sources. Increased tariffs are expected to cost Apple $900 million in the third quarter, though the company has so far not confirmed if the U.S.-China trade war could impact the prices of its products. The company is also now importing a larger portion of its iPhones from India, rather than China, to mitigate tariffs. The U.S. and China on Monday, however, agreed to pause their respective reciprocal tariffs on each other for 90 days to allow time for further discussions. Trump’s government has also announced major tariff exemptions for the tech industry ... Read full article.