Behind today's iPhone 18 Pro and iPhone Duo announcements, Apple has raised the prices of the existing iPhone 16, iPhone 17, iPhone Air, and iPhone 17e on its online store.

The new starting prices for the three models now look like this:

• iPhone 16: $799 (+$100)
• iPhone 17e: $699 (+$100)
• iPhone 17: $899 (+$100)
• iPhone Air: $1099 (+$100)

So that's a $100 price hike on all four existing models in Apple's iPhone lineup. With the debut of the iPhone 18 Pro and iPhone 18 Pro Max, Apple has discontinued the iPhone 17 Pro and iPhone 17 Pro Max.

Prior to today's iPhone event, there was growing speculation that Apple may hike the prices of its iPhone 17 lineup when new iPhone 18 Pro models launch in September, especially following CEO Tim Cook's recent comments about "unavoidable" price increases.

In late June, Cook told The Wall Street Journal that Apple is no longer able to absorb the increased cost of memory and storage chips, both of which are in high demand from AI and neocloud companies as they continue to build more data centers.

The scale of the AI infrastructure buildout has prompted debate over whether demand will ultimately justify the hundreds of billions of dollars being invested, but for now it is helping to drive supply constraints across the semiconductor industry. Cook likened the memory shortages to a hundred-year flood. "I've never seen anything like it in any area in over 40 years," he said.