Should you buy an iPhone now or wait? Here's what Apple's price hikes could mean for your wallet

Apple's latest round of price hikes has left many consumers wondering whether their next gadget purchase should happen sooner rather than later.

The company has already raised prices across its Mac, iPad and smart home line-up, citing an unprecedented rise in memory chip costs driven by the AI boom. So far, the iPhone has avoided a similar increase, but the price hike is certainly on its way to reach the smartphones as well.

For anyone already considering an iPhone upgrade, the timing has suddenly become more complicated. Buy now and you might avoid paying more later. Wait, and you could get a newer model with better hardware and software, but perhaps at a higher price than expected.

So, what makes the most financial sense?

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Should you buy an iPhone before Apple raises prices?

If your current phone is on its last legs, the answer is probably yes.

Apple has already shown it is willing to pass rising component costs on to customers. MacBooks, iPads and even products such as Apple TV and HomePod (the list) have all become noticeably more expensive after the company said memory and storage costs had surged because of growing demand from AI data centres.

While Apple has not announced any price changes for the iPhone, it would not be surprising if smartphones eventually felt the same pressure, especially if the global memory shortage continues over the coming months.

There is another financial consideration that often gets overlooked. When Apple raises the official retail price of a product family, the impact is rarely limited to brand-new devices. Existing iPhone models sold through retailers may also become more expensive as fresh inventory arrives at higher wholesale prices.

That means today's discounted iPhone could quietly become tomorrow's full-price purchase.

The same logic applies to festive shopping events. Many buyers wait for Flipkart's Big Billion Days or Amazon's Great Indian Festival in the hope of securing the lowest possible price. This year, however, there is reason to believe those discounts may not be quite as generous. If retailers themselves are paying more to source inventory, there is less room to offer deep price cuts while protecting margins.

In other words, waiting for a blockbuster sale may not deliver the bargain shoppers have become accustomed to.

Or is waiting still the smarter move?

Of course, buying early is only half the story.

Apple is expected to unveil its next-generation iPhones -- iPhone 18 Pro and it's first fold -- later this year, bringing faster processors, camera improvements and deeper AI capabilities. Even if the new models launch at a higher price, buyers would be getting hardware that is likely to remain relevant for longer.

There is also the software angle.

Apple is placing increasing emphasis on on-device AI, and future iPhones are expected to take greater advantage of these features thanks to newer chips with faster Neural Engines and higher memory bandwidth. If Apple's AI ambitions are a priority for you, waiting for the next generation could make sense despite the possibility of paying more upfront.

Buying a current-generation iPhone today also means accepting that its resale value could fall more quickly once the new models arrive. That depreciation may offset some of the savings gained by purchasing before any potential price increase.

Ultimately, the decision depends on what matters most.

If your priority is getting the best possible value for money, purchasing an existing iPhone before any official price revision may prove to be the more economical choice. You could avoid higher retail prices, benefit from current promotions and potentially sidestep reduced festive discounts later in the year.

However, if you can comfortably wait a few months and want the latest hardware, stronger AI features and longer software support, holding off could still be worthwhile, even if it costs a little more.

Why Apple has increased prices in India?

Apple recently attributed its broader price increases to an extraordinary rise in the cost of memory and storage components. According to the company, the rapid expansion of AI data centres has created unprecedented demand for high-performance memory, pushing prices to levels it says it has never experienced before.

The impact has already been visible across India. Prices of several MacBook, iPad and home entertainment products have increased by as much as 20 to 40 per cent, with some premium configurations rising even further.

Although iPhones have so far escaped the latest round of revisions, the factors driving Apple's pricing decisions have not disappeared. If memory costs remain elevated, the possibility of higher iPhone prices cannot be ruled out.

For buyers, that means one thing: this year's upgrade decision is no longer just about choosing the right iPhone. It is also about choosing the right time.