iPhone 16 Ultra is set to be Apple’s top model next year

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According to Bloomberg’s Mark Gurman, Apple will someday rename its top-tier phone from “Pro Max” to “Ultra”. This is necessary because it is much easier to say and more closely matches Apple’s naming strategy. Apple Watch and its Mac chips come with the Ultra name. Gurman now claims in the most recent Power On newsletter that Apple could launch an even more expensive iPhone above both Pro models. This means that they could be a Pro model, a Pro Max model and an Ultra model. The iPhone 16 Ultra might be the name of this if it debuts with the new iPhone in 2024.

iPhone 16 Ultra will be another luxury in the iPhone lineup

Tim Cook, the CEO of Apple, told investors that customers are ready to spend a lot of money to have the finest iPhone they can. This suggests that even more opulent versions could be coming soon.  Cook was reacting to a query about the viability of the iPhone’s increasing average sales price. After all, a lid model (the iPhone X with 256 GB storage) that cost $1,150 in 2017 now sells for $1,600. (the iPhone 14 Pro Max with 1 terabyte).

Regarding the iPhone price increase, Cook said

“I think people are willing to really stretch to get the best they can afford in that category,”

Cook made a strong case for why even more upmarket iPhones would make sense, particularly if they have new features. However, he would not say if he expects future price spikes.

Apple has talked internally about elevating the top model of its iPhone series. Also, it has already done more to set out its Pro versions from other iPhones, encouraging customers to spend more money.  Apple will use a variety of materials, CPUs, and cameras to further define the product’s tiers when the iPhone 15 is released later this year. This involves adding a periscope lens to the Pro Max variant, which will provide better optical zoom.