The iPhone 14 Pro models will reportedly carry steeper price tags than their predecessors, the iPhone 13 Pro. According to reliable Apple analyst Ming-Chi Kuo, the iPhone 14 Pro models will not target budget-conscious buyers.

In other words, the iPhone 13 Pro successors will be aimed at consumers who won't hesitate to spend a lot of money to get their hands on the new iPhone models.

The Cupertino-based tech giant could unveil the iPhone 14 series next month. Kuo claims that the average asking price of the iPhone 14 series models will be a whopping 15 per cent more than previous iPhone models.

The noted leaker took to Twitter to share the iPhone 14 series' expected price details. In his tweet, Kuo suggests that Hon/Hai Foxconn will gain from the price hike of the iPhone 14 series.

Also, the company will get a higher shipment share. Hon Hai is a major electronic manufacturing service (EMS) for the upcoming iPhone 14 series. It boasts an impressive order proportion of 60 to 70 per cent.

So, its revenue is likely to increase significantly with a hike in the iPhone 14 series price. Kuo then directed attention to how Hon Hai converted its annual performance from "roughly flat" to "growing."

Taiwanese research firm TrendForce and other sources reiterate Kuo's prediction about iPhone 14 series price hike. According to TrendForce, even the base model of the iPhone 14 Pro will ship with an internal storage capacity of 256GB.

This could reportedly be Apple's attempt to justify the price increase. However, this information should be taken with a grain of salt since Apple is still mum on the iPhone 14 series pricing.

Nevertheless, the word on the street is that the iPhone 14 series will bring major upgrades over the older models. The lineup is said to adopt an all-new design and an improved camera setup. The iPhone 14 Pro and 14 Pro Max will reportedly sport bigger displays and a better camera module.

For optics, the two Pro models could feature three rear-mounted cameras. This rear camera setup will comprise a 48MP wide sensor, a 12MP ultra-wide lens, and a telephoto lens. Furthermore, the new iPhone 14 series will probably come with 8K video support.

The handset could get 8GB of RAM and sport a 120Hz refresh rate display. According to some analysts, the base model of the iPhone 14 series will offer 64GB of onboard storage.

iPhone 13 Pro
Apple iPhone 13 Pro models in the colour "alpine green" are displayed at an Apple shop in Singapore Reuters / Edgar Su