$1000 for Apple’s iPhone 8 is too much

It’s perhaps a $1000-dollar question – how much is too much for an iPhone? If Barclays clients are to be believed then $1000 – the expected price range – for Apple’s new iPhone is too much for the smartphone. According to a report by CNBC, Barclays conducted a survey in which only 11 per cent respondents said they would pay $1000 for the iPhone.

In the past, Apple has consistently raised prices of its iPhone every year and people have lapped them without any major complaints. The new iPhone – expected to be called iPhone 8 – is expected to be launched in September. Although many reports and rumours have gone back and forth on the launch date of the iPhone. As expected, Apple has held all the cards close to its chest about pricing, availability and launch. It’s worth noting that the iPhone 7 plus which is the high-end Apple variant in the market currently costs over $1000.

With features like OLED panel, facial recognition, edge-to-edge display, it is widely expected that the new iPhone will cost above $1000. KGI Securities Apple analyst Ming-Chi Kuo had earlier last week revealed that Apple will make two to four million units available at the time of the launch. The lineup of new Apple iPhones is expected to include the iPhone 8, iPhone 7S and the iPhone 7S plus. While the iPhone 8 could be available in limited quantity, other models might not face the issue. Reports have confirmed that the iPhone 8’s production will be ramped up to 45 million to 50 million units later this year.

As for Barclays survey, what will please Apple – and other smartphone manufacturers as well — perhaps is that 85 per cent of the survey respondents are comfortable with forking out more money for new generation smartphones. Still, the $1000 price tag for the new iPhone does sound a bit much, if not too outrageous.

Filed in: News

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