The price of a high-end iPhone has increased 66% since 2009. Tim Cook says people are willing to pay more for 'the best.'

• Apple CEO Tim Cook said in an earnings call that people are willing to pay more for a better iPhone.
• The price of a high-end iPhone has increased by 66% since the iPhone 3GS was introduced in 2009.
• Apple reported a 5% decrease in revenue for the quarter ending December 31, 2022.

The price of the most expensive iPhone model has increased by more than half — from $962 to $1,600 since 2009 when adjusted for inflation — but Apple CEO Tim Cook doesn't appear worried about increasing prices.