For the fourth time in four years, Apple TV is hiking its subscription prices. Now, it will cost £11.99 per month, up from the previous £9.99 per month. The annual subscription cost will also jump from £59 to £79.

Apple One, the bundle that includes subscriptions to services like iCloud+, TV, Music, and Arcade, will now cost £21.95 per month, up from £19.95. This follows Netflix’s price increase in March and Peacock’s increase earlier this month, indicating a trend across the tech industry.

Consumers’ frustration with Apple’s decision is likely to be short-lived, given that the company will announce its newest lineup of iPhones, including its first foldable model, on September 9. However, this news comes amidst ongoing shortages in hardware components due to massive demand for AI data centers, which has led to a rise in hardware prices as well.

The price hikes are a reminder that technology is not just a tool for progress but also a significant expense. While innovations like foldable phones are exciting, they come at a cost. Whether this will spur further innovation or just another round of budget cuts remains to be seen.