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Leaked prices: Pixel 8 $699, 8 Pro at $899
(twitter.com)
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this post was submitted on 24 Sep 2023
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The MSRP for both the Pixel 6 and the Pixel 7 was $599, so this bump is indeed a bit disappointing because as you said the upgrade isn't that massive to justify a 16.7% price hike (and inflation doesn't even excuse it).
I suspect that the real reason is it cannibalized some of their a series sales by being a good deal