Apple’s forthcoming iPhone 8 is going to be expensive. Very expensive.
If rumours are to be believed, the redesigned device, due out this autumn, is set to cost upwards of $1,000 in the US.
And with exchange rates reaching record lows and considering Apple’s current price structure for iPhones, that means it could set you back £1,000 here in the UK.
Too much? Maybe. But here are five reasons why it's probably going to happen, anyway.
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1 Existing prices
Apple products have never been keenly priced. But that hasn’t stopped the tech giant becoming the dominant force in the smartphone market.
The iPhone 8 is undoubtedly going to be Apple’s most cutting-edge smartphone yet.
A new all-glass design, possible curved display and an improved, dual lens camera, will all help it stand out from previous models.
And when you take into account the fact that a 256GB iPhone 7 Plus will currently set you back £919 SIM–free, £1,000 doesn’t seem so absurd.
With Apple apparently priming 128GB and 256GB versions, prices could even reach the £1,100 mark.
2 OLED and 3D Touch
Reports from Taiwan suggest that Apple is going to have to pay a premium to marry up its 3D Touch tech with the new, ultra bright OLED screens it wants to include in the iPhone 8.
3D Touch units currently cost the Californian company $9 each, with that price seemingly set to rise to $15 this time around.
Apple is not known for low margins, so the cost will doubtless be worn by the consumer.
Is this right? Probably not. Will it hamper iPhone 8 sales? Unlikely.
3 Updated camera
The dual lens camera in the iPhone 7 Plus is superb. But Apple is said to be going all out to boost its prowess in the iPhone 8.
There’s talk of improved depth-of-field modes and using 3D modelling to outdo cameras from the likes of Samsung and Sony.
Apple will be sure talk up its capabilities, allowing it to charge more in order for its loyal fanbase to give it a go.
4 The new design
It’s questionable whether Apple is being smart about releasing updates of last year’s iPhone 7 and iPhone 7 Plus.
These ‘S’ models though, will allow it to push a £1,000 plus price tag with the iPhone 8, while saying consumers have choice at the lower end.
And with the first complete design refresh of the iPhone in a decade expected, a high price is guaranteed. It’ll be Apple’s premier product after all. Talking of which...
5 Factor in the premium on Apple products
Apple knows it can get away with high prices.
It’s been doing so for decades, well before Steve Jobs revealed the first iPhone in 2007.
The fact is, there is pent up demand for the iPhone 8, the phone not having been properly refreshed since 2015.
Apple knows this and it’s aim is to make as much money as possible.
Maybe that’s not fair on consumers, but a high price tag makes sense commercially.
It makes the iPhone 8 look more aspirational alongside rival Android phones and keeps Apple’s cachet as one of the world’s premium brands.
Want more iPhone 8 news? Head to our handy rumours round-up.