The Genius Move by Apple That You Might Not Know About
Apple (NASDAQ: AAPL) iPhone users' tastes have evolved over the years. Thankfully for Apple investors, the company has found a way to keep up with the trends and it has been more profitable because of this ability. Over the last few iPhone cycles, customers have shown little interest in its Mini version. The smallest iPhone versions represented only 9% of iPhone 13 purchases. However, the Pro version has piqued the interest of iPhone buyers. Apple first introduced the Pro version in 2019 with a better camera and the newest chips, and it has represented a surprising 41% of iPhone 13 shipments since then.
Apple eliminated the smaller version from its newest iPhone 14 lineup. Instead, the newer lineup includes two different versions of the Pro for its fanbase. At first glance, the change may not seem like a big deal, but here's why it could prove to be a genius move.
According to estimates, Apple has sold 189.2 million iPhones since the Pro version was introduced to customers nine months ago. Based on the $163 million in iPhone revenue disclosed by Apple over the same period, the company produced an average selling price of $861 for all models. Just by launching the Pro version, Apple experienced a 12% pop from Apple's 2019 average selling price before the Pro version was introduced.
Source Fool.com
