Apple's iPhone Ultra price climbs to $2,199 from $1,999 target

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Apple is expected to unveil the iPhone Ultra on September 9, with a starting price of $2,199, exceeding its initial $1,999 target due to higher component costs and market conditions. The foldable device's development accelerated after former CEO Tim Cook saw competitors' devices in Asia in 2020, though Apple had studied the technology since 2019. New CEO John Ternus championed the project, and the company drew confidence from successful iPhone Pro models near $2,000. Apple's "Surprise and shine" event occurs tomorrow, with employees confident in the product's success. The company also believes its Apple Upgrade program will help consumers accept the high price.


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