Apple could raise iPhone 17 prices amid design, feature upgrades
What's the story
Apple is said to be considering a price hike for its upcoming iPhone lineup, according to The Wall Street Journal.
The company is keen to avoid linking the price hike to US tariffs on Chinese imports, where most of latest and cutting-edge devices are made.
Instead, the decision may be tied to new features and design upgrades.
Production plans
Pro models to be manufactured in China
Speaking to sources familiar with Apple's supply chain, the company intends to continue mass production of its Pro and Pro Max models in China.
While Apple CEO Tim Cook hopes that most iPhones headed for the US market will eventually be produced in India, Indian factories still lack the infrastructure and technical expertise.
This has forced Apple to keep large-scale production in China.
Market response
Apple's price hike news boosts stock value
The possibility of a price hike for the upcoming iPhone lineup has also boosted Apple's stock value, which jumped nearly 7% in premarket trading.
Previous reports had indicated that if Apple chooses to pass on additional costs to customers amid the ongoing trade with China, iPhones could turn 30-40% more expensive.
The speculation comes amid the latest developments in US-China trade relations.
Trade agreement
US-China agree to lower tariffs on each other's products
In a recent joint statement, the US and China agreed to cut tariffs on each other's products, in a bid to ease trade tensions.
The statement revealed that the combined 145% US levies will be slashed to 30% by May 14.
Meanwhile, Chinese duties on US goods will fall from 125% to 10%.