Apple Planning $999 Price for New iPhone

Apple Planning $999 Price for New iPhone

Apple is just weeks away from launching its 10-year anniversary iPhone 8, which new reports confirm will be the most expensive iPhone ever.

The entry level iPhone 8 will cost $999 in the US, according to the New York Times. That’s a price increase of 54 per cent on the iPhone 7, which starts at $649.

Apple is not planning on releasing a 32GB version of the iPhone 8, which is the current starting size for the iPhone 7. The iPhone 8 is likely to start at 64GB, a size not available for the iPhone 7.

The iPhone 8 will be a premium version of Apple’s flagship smartphone and will be released alongside two other phones, expected to be called the iPhone 7s and iPhone 7s Plus. Upgraded versions of the current offering, the price of these handsets is expected to be lower.

Previous reports have suggested the iPhone 8 could start at more than $1,000. The price is mostly due to high manufacturing costs for the phone, which is expected to have a uniquely shaped edge-to-edge OLED screen and facial recognition security.

Apple is planning a radical redesign for the device in honor of its 10th anniversary, which includes wireless charging, no home button and an all-glass back.

The cost of phones is rising and manufacturers are yet to discover how far they can push prices before consumers lose interest. Samsung this week unveiled its most expensive phone to date, the Galaxy Note 8.