(Yicai Global) Aug. 11 -- Shares in Luxshare Precision Industry, Lingyi iTech Manufacturing and other Chinese iPhone suppliers surged by the exchange-imposed limit today after an analyst known for his accurate Apple predictions said that the US tech giant’s soon-to-be-released iPhone14 series will be priced 15 percent higher than that of the iPhone13 line-up.

Luxshare Precision’s share price [SHE:002475] jumped 10 percent to end the day at CNY38.16 (USD5.66), Lingyi iTech [SHE:002600] soared 10 percent to finish at CNY5.79 (USD0.86) and contract phone maker Dbg Technology [SHE:300735] leapt 20 percent to CNY13.16 (USD2). Stocks in the consumer electronic segments surged across the board.

The average price of handsets in the iPhone 14 series will be around USD1,000 (USD148) and USD1,050, more expensive than the previous series mainly due to inflation and higher shipping costs, Ming-Chi Kuo, a tech analyst at Taiwan brokerage KGI Securities who focusses on Apple’s supply chain, forecast on Twitter today. According to Apple Wiki, Kuo is the ‘best Apple analyst on the planet’ and as of February last year, his predictions were 76.6 percent accurate.

Hon Hai Precision Industry, also known as Foxconn and the world’s biggest original equipment manufacturer of California-based Apple’s handsets, will be one of the biggest winners from the price hike, Kuo said. No wonder the Taiwan-based firm raised its full-year performance to ‘growing’ from ‘roughly flat,’ he added.

The much-anticipated iPhone 14 series is set to be unveiled in September and should have four models, if Apple follows previous precedent. Prices for the iPhone 14 Pro will start from CNY8,999 (USD1,335) and that for the iPhone 14 Pro Max from CNY9,999, China Merchants Securities said earlier, citing industry sources. The prices are CNY1,000 (USD150) more than those of the iPhone 13.

The release of new iPhone models will be a big boost to the market and as supply chain issues are resolved following the recent outbreaks of Covid-19, there should be a big rebound in consumer electronics sales, Southwest Securities said in recent research note.

Editor: Kim Taylor