Forget the iPhone Air. iPhone 16 just got a price drop.

As expected, Apple announced the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max models during its not-quite-so ‘Awe Dropping’ event. The new iPhone lineup comes with tons of updates, including a bump in specs, 120 Hz displays across the lineup, and one extremely eye-catching shade of orange. Even better, the new iPhones arrived without significant price increases, which isn't always the case in the tariff era.

However, while the eyes of the tech world were on the iPhone 17, some of last year's iPhone 16 models received a price drop at the Apple store.

Judging by the internet's instant reaction, a lot of people are disappointed by the iPhone 17. So, if you've been eagerly awaiting the iPhone launch event so you could finally upgrade your smartphone, then the iPhone 16 just got a lot more attractive.

Apple lowers prices on the iPhone 16 and 16 Plus

Here are the updated prices for the iPhone 16 line:

• iPhone 16 - $699 (was $799)

• iPhone 16 Plus - $799 (was $899)

• iPhone 16 Pro - $999

• iPhone 16 Pro Max - $1,199

• iPhone 16e - $599

Sadly, the price drops are reserved for the iPhone 16 and 16 Plus. All of the prices shown are for the starter 128GB models except for the iPhone 16 Pro Max, which starts with 256GB of storage.

Now, let’s take a look at the base pricing for the iPhone 17:

• iPhone 17 - $799

• iPhone 17 Pro - $1,099

• iPhone 17 Pro Max - $1,199

• iPhone 17 Air - $999

Interestingly, the iPhone 17 and iPhone 16 both launched with a $799 price, but the iPhone 17 starts with 256GB of storage, so you're actually getting double the storage for the same price.

This year, there's no iPhone 17 Plus, and the new ultra-thin iPhone 17 Air is $100 more than the Plus from 2024. Lastly, while it looks like the iPhone 17 Pro Max arrived with a price increase of $100, that's not technically true. This year, Apple eliminated the 128GB version of the Pro Max, and with greater memory comes greater pricing. The 256GB version of the iPhone 16 Pro Max costs the same as the iPhone 17 Pro Max.

The most interesting price, however, is for the iPhone 17 Air. It shares the A19 Pro chip with the iPhone 17 Pro models, and despite having Pro-level specs (though not Pro-level cameras), its $999 price tag is surprisingly appealing. 

What do you lose if you stick with the iPhone 16?

The iPhone 17 does have some worthwhile upgrades, particularly the base model. All of the new iPhones now come with 120 Hz displays, a feature that was reserved for most Android phones and the higher-tier Pro models until this year. The iPhone 17 gets the new A19 chip, and the Pro models get the A19 Pro, which Apple promises offers better performance. (Apple says it's the fastest mobile phone processor ever constructed.)

Included also with these new iPhones is a return to aluminum, a 3,000-nit screen with Apple’s Ceramic Shield 2, and significant camera upgrades. If you're serious about photography, you'll lose out on the new 18-megapixel Center Stage front camera on the iPhone 17. The flagship models also offer better cameras, with three 48-megapixel cameras on the back.