But for those who don’t mind having something that’s not quite on the bleeding edge of technology, there are deals to be found.
The iPhone 7 was, until yesterday, Apple’s flagship product and the introduction of the X means it just became a lot more affordable. Apple has dropped the suggested retail price of the iPhone 7 and iPhone 7 Plus by $100—and some retailers are sweetening those offers.
(It’s worth noting there are also deals to be found on the iPhone 8 and iPhone X.)
A few caveats: First, while Apple did cut the price of both models, they’ve eliminated the 256GB versions of the phones (presumably to steer people who want a lot of memory to the newer models). The suggested retail price of a 32GB iPhone 7 will cost $549, while a 32GB iPhone 7 Plus will run $669. 128GB models are $649 and $769.
AT&T, though, is still offering a buy-one-get-one-free deal on the iPhone 7 for new customers who sign up for its AT&T Next service. And retail stores like Target and Costco frequently offer store gift cards with the purchase of an iPhone, which could increase your savings. Keep an eye, also, on GameStop. The video game retailer also sells refurbished iPhones and while it has not yet adjusted its prices after yesterday’s announcement, it’s likely to do so in the coming days. (Right now, an iPhone 7 starts at $499.)
Don’t rule out Apple itself either. The site offers deals on refurbished items—and while there are no iPhone 7 models available at the moment, that’s certain to change in the weeks to come.
Expect prices to go lower, too, as the holidays approach and retailers look to bring in foot traffic. Gap Intelligence notes that iPhone 6s prices fell immediately, when the iPhone 7 was announced, but people who waited saw prices fall an additional $50 over the following two months.
Editor's note: This story has been updated to remove inaccurate T-Mobile pricing information.