It's that time of year again for Apple fans as they eagerly anticipate the launch of the highly anticipated iPhone 15. However, this time around, the biggest surprise might not lie in its features or specs, but rather in its price.

Traditionally, Apple releases new iPhones every fall, typically maintaining the same price points while upgrading the technology. However, industry insiders speculate that this year may be different. There are speculations that Apple might increase the prices of its Pro-level models by $100 or even $200 compared to the current iPhone 14 Pro prices.

It's worth noting that iPhones are already on the pricier side, with the most affordable option, the iPhone 14 Pro, starting at $999 and the top-of-the-line iPhone 14 Pro Max configuration reaching a whopping $1,599.

According to Brian White, an analyst at Monness, Crespi, Hardt & Co., Apple might believe that consumers would be willing to pay more for the iPhone 15 Pro models given their popularity compared to the regular iPhone 14 models. Furthermore, Apple might consider a price hike in light of the economic inflation experienced over the past couple of years.

However, Erik Woodring from Morgan Stanley has a different perspective. He believes that Apple may opt for a more cautious approach and only increase the price of the Pro Max model by $150 to account for an anticipated new rear-facing periscope lens. Woodring argues that it would be uncharacteristic for Apple to raise prices across all models, especially as the smartphone market has seen an 11% decrease.

One major concern for iPhone enthusiasts and Apple investors is the availability of the new iPhone models. While most iPhones released last year hit stores in mid-September, there are worries about potential production delays this time around.

According to Wamsi Mohan, an analyst at BofA Securities, the iPhone 15 Pro Max may not be widely available until October due to manufacturing challenges.

Read: Waiting for the iPhone 15? Brace Yourself for Possible Delays.

Overall, Apple's upcoming iPhone 15 launch promises excitement and intrigue, with potential price increases and availability concerns adding an unexpected twist to the highly anticipated event.

iPhone Feature Updates: Incremental Improvements Expected

Apple's annual iPhone feature updates have become more incremental in recent years, and this time around, industry experts are not expecting any groundbreaking innovations either. As always, the new iPhone models are likely to be slightly faster than their predecessors, and there are rumors of faster charging speeds as well. However, there is a catch – Apple is expected to replace its proprietary Lightning cable with the more universal USB-C cord.

Enhancements for Base-Level Models

While the attention is often on the Pro models, there may be some notable enhancements for those considering the base-level iPhone models. Reports suggest that the upcoming iPhone 15 and iPhone 15 Plus might include features previously reserved for the more expensive Pro models introduced last year. These potential enhancements could include the A16 chip, Dynamic Island technology, and a 48-megapixel camera.

Going Pro: Titanium Frame and Camera Upgrades

Why choose the Pro models? Apple is rumored to be considering a switch from stainless-steel casing to a titanium frame, which would offer a more premium feel. Additionally, camera enhancements are expected, with possibilities such as a periscope-type telephoto lens for the Max versions.

Apple's aim to attract customers to the higher-priced models may include introducing more distinct casing colors between the Pro and regular series. This color differentiation could help drive "vanity switchers" towards the more expensive options, according to Jefferies analyst Andrew Uerkwitz.

Color Options: Dark Blue and Pastels

This year, Apple may offer a new dark blue color option for the iPhone Pro line, according to reports. However, for those who prefer the base-level model, there are rumors of a pink version, among other pastel color options.

Apple Watch Update: Faster Processors and Same Design

In addition to the new iPhones, Apple is also expected to refresh its Apple Watch lineup at the event. Bloomberg News reports that the Apple Watch Series 9 will feature a faster processor while maintaining the same design as previous models. Furthermore, an upgraded version of the Ultra Watch is anticipated, potentially available in a black color option.

The highly anticipated Apple event will kick off at 1 p.m. Eastern time on Tuesday and can be viewed live on Apple's website.