Apple says your next iPhone may get way more expensive

Anyone upgrading to a new iPhone later this year may find they face a much higher bill. It seems the spiralling cost of memory used in these devices will mean consumers having to pay more to switch to something new.

Memory (or RAM) is currently in high demand due to the explosion in AI and the massive servers that handle the requests.

In recent years, major memory manufacturers have shifted production capacity toward AI-focused memory products. That's had a huge knock-on effect for consumer devices, including laptops, tablets and phones.

To make matters worse, the current war in Iran has disrupted helium supplies, which is a crucial gas when making semiconductors. This has pushed costs even higher.

In a warning to customers, Apple's CEO Tim Cook has now said that price increases could be on their way.

Speaking to the Wall Street Journal (WSJ), Cook said, "We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our customers from the increases, but the situation has become unsustainable."

"There's less supply at a time when consumers want devices and the memory guys are passing along huge price increases.

"We definitely need memory pricing and supply to return to reasonable levels for consumer products. That's the bottom line."

It's unclear when things will get more expensive, but Apple is expected to reveal its new iPhones in the autumn, and these could be the first to see the hike.

It's also rumoured that a foldable iPhone could be on its way later this year, which will open like a book to reveal a tablet-style display.

If this device turns out to be real and RAM prices continue to increase, the iPhone Fold may end up being one of the most expensive smartphones ever made.

We'll have to wait and see what is announced, but expect more news in September as this is the month Apple always releases its latest products.