iPhone Average Selling Price Analysis is Up - Should it be Higher?
Last week we released CIRP analysis of iPhone model sales in the June 2025 quarter. The next day Apple announced quarterly results that exceeded everyone’s expectations, with improved iPhone sales and gross margins. This week we look at one of the best metrics we have to understand iPhone sales, US-WARP - the weighted average retail price of new iPhones sold in the quarter, which provides great insight into Apple’s performance in its most important business segment.
Note, Apple stopped releasing Average Selling Price (ASP) for iPhones in 2018. Fortunately, CIRP had calculated the Weighted Average Retail Price of iPhones sold in the US (US-WARP) for more than five years at that time. The numbers moved similarly, though ASP was a global number and US-WARP is US only and does not take into account wholesale discounts that Apple may offer to different retailers.
Apple introduced the iPhone 16e in the previous quarter, replacing the lower-priced and older iPhone SE. The June 2025 quarter thus has the first full quarter of the new lineup and the $100 positive price differential between the two models. US-WARP is driven by model mix - the percentage of unit sales for each phone tier - and storage upgrades, which increase purchase prices by $100 or more.
In the March 2025 quarter, US-WARP was $985, up from $971 in the March 2025 quarter and up from $971 (yes, the same figure, just a coincidence) in the June 2024 quarter (Chart 1).