The $999 iPhone 8 Is Looking More And More Likely

Get ready to open your wallet and dig deep if you want the iPhone 8, with further weight to the ongoing rumors that the Note 8 won't be the only very expensive smartphone of 2017. The new iOS handset is now expected to make its debut on September 12, but one big detail still remains unconfirmed. Namely: if there are, indeed, three new iPhones this year, just how much will the most expensive version set us back?

Speculation so far has pointed to somewhere in the $1k range, or even higher. That's where a new report by the New York Times lands too. It claims that, according to people familiar with Apple's plans but speaking anonymously, there will be "a premium model priced at around $999."

That's expected to be the version of the new iPhone with the most significant design and hardware departure from the iPhone 7 and iPhone 7 Plus available today. The sources add their (nameless) voice to the idea of a display that occupies a greater percentage of the front of the phone, with smaller bezels as a result. They also say to expect facial recognition and wireless magnetic-induction charging.

Back when speculation of a thousand dollar iPhone 8 began, it's fair to say that many were skeptical about the possibility. In the intervening weeks, though, it's begun to look more and more likely. Apple's plan, it's believed, is to refresh both the current iPhones – making, though none of the names are yet confirmed, an iPhone 7S and iPhone 7S Plus – while adding a third model to the line-up, a new flagship with the most cutting edge technology.

Such a strategy would arguably allow for a premium price tag on that third model. Meanwhile, Samsung's Galaxy Note 8, announced yesterday, has also helped pave the way for high-priced smartphones. It's available through carriers for around $950, though Samsung is attempting to sweeten the deal for preorder customers – who will receive their phones just a few days after the new iPhone is expected to be revealed – with bundles of accessories.

While raising the (ASP) average selling price of every iPhone sold would undoubtedly be a boon to Apple's bottom line come financial results season, it also represents a way of dealing with what's likely to be short supply of the most innovative new model. One of the reasons Apple is believed to be earmarking the newest, most changed components for the so-called iPhone 8 is that it simply can't secure sufficient parts, at this stage at least, to implement them across its whole smartphone range. By pricing the device higher than many would-be buyers might be willing to spend, it could offset some of the stock shortages likely to linger around the iPhone's launch.